Bitcoin rose about 25% this week, reaching near $78,500, after the U.S. Treasury announced it would double its buyback operations on long‑dated Treasury bonds. The Treasury said each buyback would increase to $4 billion, up from $2 billion, which pushed the 30‑year Treasury yield down from 5.34% to roughly 5.19%. The yield decline coincided with about $4 billion in bearish crypto positions being liquidated and roughly $650 million in net inflows to spot Bitcoin exchange‑traded funds. Traders noted that the lower Treasury yields reduced the appeal of interest‑paying government debt relative to Bitcoin, which pays no yield. Jeff Ko, chief analyst at CoinEx, described the program as a modest liquidity tool rather than quantitative easing, calling it a soft policy signal on the long end of the yield curve. Shawn Young, chief analyst at MEXC Research, said the rally reflected an already extreme short‑position imbalance rather than a fundamental shift. Hong Yea, co‑founder of Grvt, explained that falling yields lower the hurdle rate for risk assets, making Bitcoin more attractive when risk‑free returns decline. Himanshu Sahay, CTO of Arch Lending, cautioned that the rally may be driven by incremental demand rather than strong conviction and that rising yields could later affect inflation expectations and broader risk appetite. President Donald Trump reiterated support for U.S. leadership in digital assets and urged Congress to advance the CLARITY Act during a crypto‑focused gathering. Ko said the next test is whether Bitcoin can hold above its 200‑day moving average near $69,000, which would signal a shift from resistance to support.