When the U.S. Treasury suddenly doubles its buyback of long-term bonds, and Bitcoin surges more than 20 percent in three days, it's not just market noise. It's a signal that confidence in traditional instruments for preserving capital is cracking again.
Over the week, Bitcoin gained about 23 percent — the largest weekly gain since March 2023. The price approached the 80 thousand dollar mark, a level last seen in May. Ether also updated its highs since January. Inflows into spot Bitcoin ETFs totaled nearly 1,92 billion dollars — the highest since October last year. Simultaneously, over 4 billion dollars exited the market in short positions.
The main trigger is the Treasury's decision to increase the volume of long-term bond buybacks. Yields fell, and risk appetite returned. Added to this were President Trump's meetings with crypto industry representatives and Ray Dalio's warning: major economies could face a debt crisis, so it's worth holding 'a bit' of Bitcoin in a portfolio.
Behind the visible optimism lies an old story. Investors are seeking protection from growing budget deficits and inflation expectations. Bitcoin once again acts as a digital analog of gold — an asset that doesn't depend on the decisions of a single central bank. However, history has already shown: a similar three-day surge in January 2023 quickly fizzled out, and the price returned to the 200-day moving average.
A short squeeze amplifies the upward move but doesn't change fundamental volatility. As analysts note, nothing has canceled Bitcoin's long-term thesis, but nothing has canceled its ability to sharply reverse either. For the average person, this is a reminder: any asset that rises 20 percent in a few days requires a clear understanding of how much of a portfolio it can occupy without losing sleep.
The 2026 rally once again confirms: when governments actively intervene in the bond market, some capital inevitably seeks alternative anchors. The question isn't whether Bitcoin will reach 80 thousand, but how sustainable this move will be when macroeconomic winds shift again.
