Treasury Steps In, Bitcoin Wakes Up, and More

Week in review

‘We’re Going to Increase the Buyback’: Treasury Boss Targets Bond Yields

Treasury Secretary Scott Bessent told CNBC Thursday that U.S. debt buybacks could blow past $4 billion per operation as Washington moves to steady…

Editor’s comment:

While the Treasury’s intervention is not exactly QE, the markets are interpreting it as such, and it has totally changed the setup for bitcoin and hard assets. Markets will need more time to absorb it, this may have been the bullish fundamental catalyst that many were waiting for.

Bitcoin Rips Toward $70K as $1.3B Short Squeeze Erupts

Bitcoin raced to $69,749 on Aug. 19 as falling Treasury yields and a cascade of forced short liquidations turned weeks of quiet trading into a sudden run toward $70,000.

Editor’s comment:

Note that the following day, BTC actually made it to nearly $73k. On the 19th, bitcoin saw what is believed to be the highest amount of daily liquidations in history at $1.3 billion. These forced liquidation events are what you want to see at cycle bottoms.

Trump’s Hyperliquid Name-Drop Sends HYPE Charging Toward Record Highs

Hyperliquid’s HYPE token charged toward record territory after U.S. President Donald Trump revealed regulators are working on a legal pathway that could bring the crypto trading heavyweight into the American market.

Editor’s comment:

HYPE was already one of the darlings of the crypto bull cycle, so any narrative boosts like this are just gravy on top. Regulatory uncertainty was essentially the last possible headwind that Hyperliquid had. With that potentially gone, the sky is the limit for HYPE.

CFTC Seats Kalshi, Polymarket, Draftkings on Its New Advisory Panel

The Commodity Futures Trading Commission’s Innovation Advisory Committee holds its first meeting Thursday, with prediction markets on the agenda.

Editor’s comment:

Kalshi’s Tarek Mansour and Polymarket’s Shayne Coplan hold two of the 35 seats on the new advisory board. Prediction markets are huge and getting huger, and strong regulation is needed to curb all the insider trading and manipulation.

Vaneck: Bitcoin’s Correction May Be Ending as 8 of 12 Signals Fire

Vaneck says bitcoin’s 11-month correction may be nearing its end, with 8 of 12 capitulation signals now firing and long-term holders shedding 356,000 BTC in just 30 days.

Editor’s comment:

This report came out one day before bitcoin’s big impulse up, so this may tick off a few more boxes for VanEck. The firm also increased its allocation to BMNR by 49.3% in Q2 alone.