मुख्य बातें
- The U.S. DAO controls and spends.">Treasury reportedly bought back $12.5 billion of its own debt to support market liquidity.
- The buyback drew attention because DAO controls and spends.">Treasury liquidity conditions can affect bond yields and broader risk assets.
- बिटकॉइन traders are watching whether lower yields and easier liquidity conditions could support BTC price momentum.
On September 3, the U.S. DAO controls and spends.">Treasury finalized a cash-management debt buyback totaling $12.5 billion. As market participants evaluated the liquidity implications of the operation, बिटकॉइन climbed past the $80,000 threshold. The purchase focused specifically on short-term nominal coupons scheduled to mature between October 2026 and September 2028.
This Treasury maneuver drew notice because buyback operations can influence near-term cash and bill issuance patterns. Nevertheless, official Treasury guidance clarifies that cash-management buybacks function as debt-management instruments rather than forms of monetary stimulus, preventing direct comparisons to Federal Reserve quantitative easing.
ट्रेजरी द्वारा $12.5 अरब की पुनःखरीद किए जाने पर बिटकॉइन की कीमत में वृद्धि
TradingView metrics indicated that बिटकॉइन changed hands around $81,457 on September 3. On the four-hour timeframe, BTC remained positioned above its 20-period, 50-period, 100-period, and 200-period exponential moving averages, which sat near $78,726, $78,004, $75,866, and $72,360, respectively. Furthermore, the Moving Average Convergence Divergence indicator held in positive territory, with the MACD line resting above the signal line.
The U.S. Treasury’s refunding calendar for August had previously outlined Thursday’s initiative, establishing a maximum purchase limit of $12.5 billion for nominal coupons spanning one to two years. With settlement planned for September 4, the transaction operated as a scheduled cash-management measure rather than a sudden emergency intervention.
CME ग्रुप के इकोनोडे (Econoday) कैलेंडर के डेटा ने भी इसी तरह इस लेनदेन को नकद-प्रबंधन पुनःखरीद के रूप में वर्गीकृत किया, जिसमें समान परिपक्वता सीमा और खरीद सीमा का हवाला दिया गया। ट्रेजरी नकद भंडार को विनियमित करने और महत्वपूर्ण वित्तपोषण चक्रों के आसपास व्यवधानों को कम करने के लिए ऐसी गतिविधियों का उपयोग करता है।
इसके अलावा, ट्रेजरी के आधिकारिक दस्तावेज़ पुनःखरीद से जुड़ी व्यापक तरलता धारणाओं को खारिज करते हैं। कार्यक्रम के दिशा-निर्देश निर्दिष्ट करते हैं कि अधिग्रहित प्रतिभूतियों को निपटान के बाद सेवानिवृत्त (रद्द) कर दिया जाता है, जबकि पुनःखरीद के लिए खर्चों को समग्र संघीय उधार मांगों के एक अतिरिक्त घटक के रूप में माना जाता है।
Consequently, the transaction does not parallel asset purchases conducted by the Federal Reserve. Quantitative easing serves to expand the central bank’s reserve balances and securities portfolio, whereas Treasury buybacks retire targeted debt while keeping financing requirements inside the parameters of the government’s broader issuance strategy.
तरलता के दावों के बावजूद बिटकॉइन की कीमत को $83,000 के आपूर्ति क्षेत्र का सामना करना पड़ रहा है
Frederik Theissen, a researcher at Glassnode, noted on September 2 that बिटकॉइन’s upward trajectory had stalled beneath overhead supply. Glassnode identified this supply corridor between $83,000 and $86,000 following the short squeeze seen in August. The analytics firm also pointed out that the yield on the U.S. 10-year Treasury note had advanced to 4.8%.
Consequently, Bitcoin’s push past $80,000 brought valuations back toward a previously established resistance region. Glassnode emphasized that elevated sovereign yields continue to serve as a vital factor influencing global discount rates, keeping conditions in the Treasury market highly relevant for risk-on assets.
The identical research report revealed that 68% of the circulating Bitcoin supply remained in profit during the most recent retest near May price levels, compared to 65% during an earlier evaluation. Glassnode viewed this variance as an indicator of potentially heavier sell-side supply following summer redistribution phases.
नतीजतन, गुरुवार को आए उछाल के बाद तकनीकी दृष्टिकोण मिला-जुला रहा। हालांकि कीमतों ने मनोवैज्ञानिक $80,000 के मील के पत्थर को पुनः प्राप्त कर लिया, लेकिन घनी ऊपरी आपूर्ति पास ही रही। ग्लासनोड द्वारा पहचाने गए बैंड के माध्यम से एक निरंतर ब्रेकआउट के लिए मजबूत हाजिर (स्पॉट) बाजार की मांग की आवश्यकता होगी जो कि एक अल्पकालिक व्यापक आर्थिक प्रतिक्रिया प्रदान नहीं कर सकती है।
BTC क्रिप्टो डेरिवेटिव्स लीवरेज में वृद्धि
TradingView data indicated that Bitcoin dipped beneath $78,000 on September 2 before staging a sharp upward acceleration the next day. Four-hour charts demonstrated that BTC maintained its position above short-term moving averages as upward momentum picked up pace. Bitcoin subsequently drifted toward the $81,000 region on September 3, confirming a decisive breakout from the trading range of the prior session.
इन मेट्रिक्स से पता चला कि रिकवरी के दौरान बाजार का लीवरेज सक्रिय रहा। ओपन इंटरेस्ट का बढ़ता स्तर किसी भी दिशा में मूल्य उतार-चढ़ाव को बढ़ाने की क्षमता रखता है क्योंकि मूल्य भारी कारोबार वाले क्षेत्रों के करीब पहुंचते हैं, हालांकि यह मीट्रिक यह साबित नहीं करता है कि ट्रेजरी के कार्यों ने रैली को ट्रिगर किया है।
Glassnode’s September 2 publication also indicated that short-term options positioning had cooled down from the frenzied squeeze observed in August. Seven-day options skew drifted back toward neutral levels after traders previously rushed to accumulate upside calls, though demand for longer-dated options held steady.
This reset within the derivatives sector decreased indications of extreme bullish sentiment over the near term. Even so, September options exposure remained heavily clustered above the $80,000 mark. Glassnode calculated roughly $14 billion in total open interest spanning across Deribit and BlackRock’s IBIT heading into the September 25 expiration.
Fed Meeting and Treasury Operations Set Next Catalyst
Federal Reserve Governor Christopher Waller stated on September 3 that inflation continues to hover above the 2% target established by the Federal Open Market Committee. He suggested that ongoing improvements in inflation readings could justify keeping interest rates unchanged at the upcoming September 15–16 meeting, whereas a sudden reversal in inflation progress could trigger another rate hike.
The Treasury’s upcoming scheduled cash-management buyback is slated for September 9, carrying another $12.5 billion purchase limit. The agency additionally intends to launch larger, long-end liquidity-support initiatives beginning on that same date. Consequently, Bitcoin traders are currently navigating a combination of overlapping Treasury flows, upcoming inflation figures, and evolving Federal Reserve policy expectations.
अक्सर पूछे जाने वाले प्रश्न
Why did the U.S. Treasury buy back debt?
The U.S. Treasury executed a $12.5 billion cash-management debt buyback to support market liquidity and manage cash balances and financing flows.
Did the Treasury buyback cause the Bitcoin price to jump?
While Bitcoin rose above $80,000 as traders assessed the liquidity effects, analysts note the operation is a debt-management tool rather than monetary stimulus, and leverage also played a role in the price movement.
What are the next market catalysts for Bitcoin?
Bitcoin traders are watching the upcoming Federal Reserve meeting, incoming inflation data, and the Treasury’s next scheduled cash-management buyback set for September 9.
