Bitcoin Surges Past $79K as Treasury's 'Not-QE' Liquidity Push Boosts Crypto

Bitcoin rallied more than 23% toward $79,000 this week as the US Treasury's expansion of long-dated bond buybacks fueled what analysts are calling a "not-QE" trade. Ether also crossed $2,400, benefiting from the same liquidity tailwinds. Standard Chartered analyst Geoff Kendrick told clients that the Treasury's plan to at least double buyback operations for 10- to 30-year coupons is "exactly the type of thing Bitcoin loves," projecting BTC could reach $100,000 by year-end. Long-dated yields fell sharply and Bitcoin's price jumped more than 6% to nearly $69,000 on the announcement — its highest level since early June, per CoinMarketCap. Kendrick flagged $65,500 as the critical technical level; a sustained break above it would confirm the cycle low is in, reinforcing Bitcoin's position as a hedge against monetary debasement given its fixed supply.

Corporate crypto treasury strategies are accelerating in response to the favorable macro backdrop. Tokyo-listed Metaplanet announced plans to take a controlling stake in Nasdaq-listed Super League Enterprise, contributing 2,100 BTC and $2.5 million in cash to create a new US-listed entity called Superplanet. The contributed Bitcoin, worth roughly $145 million, represents under 5% of Metaplanet's 43,000 BTC holdings and comes from existing treasury reserves rather than new purchases. CEO Simon Gerovich said the dual structure provides two capital-raising avenues — Superplanet in US markets and Metaplanet in Japan — while shares of Super League surged over 50% on the news. The deal is expected to close in the fourth quarter pending shareholder approval.

Cypherpunk Technologies is making a separate $33 million bet on Zcash mining, doubling down on privacy-focused digital assets amid the broader crypto rally. Meanwhile, the expanded Treasury buyback program runs from September 9 through November 4, leaving the market to weigh whether Washington will continue finding new ways to inject liquidity without formally restarting quantitative easing. If that pattern holds, Bitcoin and other risk assets could remain among the primary beneficiaries heading into the final quarter of the year.