Bitcoin Breaks $78,000 as Bets on Treasury Yield Curve Control Expectations Intensify

According to CoinDesk, the U.S. Treasury announced it will raise the single-operation long-term Treasury buyback cap from $2 billion to at least $4 billion between September 9 and November 4, funding via short-term debt rather than "money printing," which the market views as a liquidity management operation akin to "Operation Twist 2." Although officials stress this move is not quantitative easing (QE) or yield curve control (YCC), with long-term yields near two-decade highs and fiscal deficits elevated, the action is interpreted as a signal of policy concern over rising financing costs, reinforcing expectations of more aggressive YCC in the future. This drove Bitcoin to surge past $78,000 in the short term, with weekly gains reaching 23%, while gold strengthened in tandem and the dollar weakened, with short covering amplifying market volatility.