A new consensus is starting to emerge in the crypto market:
The U.S. Treasury, with few options left, will ramp up purchases of U.S. Treasuries to prevent a market meltdown and curb a sharp rise in yields ahead of the November midterm elections. The resulting liquidity injection could push BTC to new all-time highs.
The thesis is gaining traction as the Treasury has already announced plans to double its long-dated bond buybacks starting in September, while Bitcoin has rallied alongside the weaker dollar and easing Treasury yields.
2
1
1
