Bitcoin Could Target $180,000, US Treasury Bond Buybacks May Serve as a New Catalyst

Odaily News - Macro strategist Mark Connors stated that the U.S. Treasury's plan to regularly buy back long-term government bonds could become a significant catalyst for Bitcoin's next rally, potentially paving the way for BTC to reach a $180,000 target.

Connors believes that the U.S. Treasury's intervention in the bond market is a key signal, indicating that the government is addressing pressures from rising long-term borrowing costs. He noted that higher Treasury yields tend to attract capital into the bond market, thereby weakening risk assets, including inflows into cryptocurrencies. If buyback operations support bond prices and push yields lower, they could alleviate the macro pressures facing Bitcoin. It is expected that the scale of U.S. Treasury support could expand to $10 billion to $30 billion per month, far exceeding the current $4 billion level.

Connors previously anticipated that Bitcoin might have to wait until around November for its next phase of growth, but he now believes the market pace could accelerate. He suggested that if the U.S. further adjusts the Supplementary Leverage Ratio (SLR) rules to allow banks to hold more U.S. Treasuries, it could become a key factor driving Bitcoin's breakout. "When this change occurs, Bitcoin will begin to target its first price objective of $180,000," Connors said. He projects that Bitcoin's price range in this cycle through 2030 could reach between $180,000 and $360,000.

However, Connors also cautioned that short-term risks still depend on the progress of the U.S. CLARITY Act. If the bill does not advance before September 15, Bitcoin could face pullback pressure. He believes that progress on regulatory legislation will become an important factor influencing near-term market sentiment. (CoinDesk)