It has been suggested that the expansion of the US Treasury Department's bond buyback program could help Bitcoin reach its target price in the current market cycle more quickly.
Marc Connors, Chief Investment Officer and Macroeconomic Analyst at Risk Dimensions, stated that if the Treasury Department's actions alleviate pressure on the yields of long-term US Treasury bonds, it could create favorable conditions for Bitcoin's growth.
According to Connors, these events could enable Bitcoin to reach its current target of $180,000 faster. The analyst believes that under favorable macroeconomic conditions, Bitcoin could gain momentum and reach a price range of $180,000 to $360,000 in the long term.
Recently, macroeconomic events have increasingly influenced Bitcoin's price movements. US Treasury bond yields, monetary policy expectations, and global liquidity conditions are among the factors directly affecting investor demand for risky assets. Therefore, public debt management policy is under close scrutiny by the cryptocurrency market.
Connors also noted that developments regarding the CLARITY Act, a bill aimed at regulating the US cryptocurrency market, will be a key factor in the short term. He emphasized that any progress before September 15 will be closely monitored by the market, adding that regulatory clarity could boost institutional investor interest in Bitcoin.
According to analysts' estimates, the next surge in Bitcoin's price may depend not only on events specific to the cryptocurrency market but also on US economic and public debt policies.
*This is not investment advice.
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