Bitcoin rises to an 11-week high near $70,000 amid expansion of U.S. Treasury debt buyback program.

PANews, August 19: According to Cointelegraph, Bitcoin surged significantly after the opening of U.S. equities markets on Wednesday, driven by the U.S. Treasury’s expansion of its Treasury repurchase program and improved expectations for market liquidity. The price reached a high of $69,749, the highest level since June 2, marking a daily gain of approximately 6%. Previously, the U.S. Treasury announced it would increase the scale of long-term Treasury repurchase operations starting September 9, raising the single-operation cap from $2 billion to at least $4 billion. This move was viewed by markets as providing additional liquidity support to the long-term bond market, boosting broader risk assets. In response, the yield on the U.S. 30-year Treasury note quickly declined, falling about 9 basis points from its near-20-year high to 5.19%.