Analysis: Bitcoin's Recent Rally May Be Driven by Eased US Treasury Pressure, Fed Liquidity Expectations Key to Outlook

August 21 news, according to CoinDesk, Bitcoin's sharp rise this week may be mainly driven by eased pressure in the US Treasury market. Earlier, the White House signaled support for stability in the US Treasury market, alleviating investor concerns over bond market volatility. However, the longer-term trajectory still depends on changes in Federal Reserve liquidity policy. Analyst Pedro Fontes stated that if the world's largest debt market requires policy support to maintain stable operations, it would further strengthen market demand for assets characterized by scarcity, predictability, and independence from government debt expansion logic—a profile that Bitcoin fits. Meanwhile, the US dollar index fell 0.88% to 98.77 yesterday, hitting a new low since May.