Overview
- The U.S. Treasury announced it will at least double the size of long‑dated bond buyback operations from $2 billion to at least $4 billion per operation, a change publicized in Treasury comments reported across outlets.
- Markets read the buyback expansion as a liquidity boost that pushed long‑end yields lower and the dollar weaker, and Bitcoin and Ethereum jumped to the high‑$60,000s–low‑$70,000s and above $2,200 respectively.
- The price surge forced a dramatic unwind of leveraged short bets with CoinGlass and other trackers showing roughly $1.5 billion to $1.6 billion liquidated in a single hour and total crypto liquidations of about $3 billion over 24 hours.
- Spot Ethereum ETFs recorded roughly $71 million in daily net inflows during the rally and pushed total ETH spot‑ETF assets to about $10.8 billion, providing a direct institutional demand channel alongside derivatives‑driven buying.
- Policy signals at a White House meeting where President Trump urged passage of the Clarity Act helped sentiment, but analysts warn the move is largely liquidity‑driven and could consolidate or pull back without sustained ETF flows or further macro support.