Why Bitcoin Is Surging After the Treasury’s Market Intervention: Caitlin Long

The U.S. Treasury’s recent decision to increase long-end bond buybacks has triggered a significant market rally, signaling a shift toward yield curve control that benefits risk assets like Bitcoin and gold. While institutional interest in tokenization grows, particularly on the Ethereum network, the Federal Reserve remains a primary bottleneck for innovation, maintaining antiquated systems and stalling access for crypto-native institutions like Custodia Bank. Despite the influx of traditional financial entities into the space, the core revolutionary value of Bitcoin—its permissionless, peer-to-peer nature—remains intact. The four-year market cycle persists, driven by fundamental miner economics, even as institutional players shift their focus toward AI and longer-term strategies. Ultimately, the transition of regulatory power from the Fed to the Treasury suggests a potential acceleration in policy, though the industry continues to navigate significant bureaucratic friction.