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

Odaily Planet Daily News Macro strategist Mark Connors stated that the US Treasury's plan to regularly buy back long-term government bonds could become an important catalyst for Bitcoin's next rally, creating conditions for BTC to move toward the $180,000 target.

Connors believes that the US Treasury's intervention in the bond market is a significant signal, indicating that the government is addressing pressures arising from rising long-term borrowing costs. He noted that higher Treasury yields tend to attract capital flows into the bond market, thereby weakening risk assets, including capital 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 US Treasury support could expand to $10 billion to $30 billion per month in the future, far exceeding the current $40 billion level.

Connors previously predicted that Bitcoin might have to wait until around November for the next phase of appreciation, but he now believes the market pace could accelerate. He stated that if the US further adjusts the Supplementary Leverage Ratio (SLR) rules to allow banks to hold more US Treasuries, it could become an important factor driving Bitcoin's breakout. "When this change occurs, Bitcoin will begin to look for its first target price of $180,000," Connors said. He estimates 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 US CLARITY Act. If the bill makes no progress before September 15, Bitcoin could face downward pressure. He believes that progress on regulatory legislation will become an important factor influencing market sentiment in the near term. (CoinDesk)