Bitcoin Surges Past ...

Bitcoin Surges Past $69K as Traders Flip From Bearish to 50/50

By José Oramas August 20, 2026 In Bear Market, Bitcoin

Bitcoin traded at US$68,995 (AU$97,283) at 03:10 UTC on Thursday, up 7.38% over 24 hours with a session high of US$69,892, CoinGecko data shows.
The 30-year Treasury yield closed at 5.19% on Wednesday against 5.28% a day earlier, and the 10-year at 4.65% against 4.71%.
Treasury said it will at least double the size of its long-end bond buyback operations, from US$2 billion to at least US$4 billion, starting 9 September.

Bitcoin (BTC) climbed as high as US$69,892 (AU$98,548) during Wednesday’s session and held near US$68,995 (AU$97,283) early on Thursday, a 7.38% gain over 24 hours, as long-dated Treasury yields fell and the US Treasury announced a doubling of its long-end bond buybacks.

CoinGecko put the price at 03:10 UTC on Thursday, with a 24-hour low of US$64,124 (AU$90,415) and a market capitalisation of about US$1.385 trillion (AU$1.95 trillion). Bitcoin remains 45.28% below its record of US$126,080 (AU$177,773), set on 6 October 2025.

Treasury’s own published yield curve shows the 30-year at 5.19% on Wednesday, against 5.28% on Tuesday and 5.31% on Monday. The 10-year closed at 4.65%, against 4.71% a day earlier, and the 20-year at 5.17% against 5.28%.

What Treasury Actually Announced

The US Treasury said it is increasing, “by at least double,” the size of liquidity support buyback operations for longer-dated nominal coupon securities in the 10-to-20-year and 20-to-30-year sectors.

The maximum per operation rises from US$2 billion (AU$2.82 billion) to at least US$4 billion (AU$5.64 billion).

That change takes effect on 9 September and runs through 4 November, the end of the current refunding quarter, with further detail due at the Quarterly Refunding on the same date.

The US Treasury attributed the increase to its “desire to provide greater liquidity support in longer-dated nominal sectors where there is consistent strong sponsorship from market participants,” and made no reference to yields or the dollar.