A US government plan to buy back its own long-term debt pushed the dollar down and sent Bitcoin, gold and altcoins sharply higher — good news for crypto holders, at least in the short term.

• The Treasury said it will double the size of its buybacks of 10-, 20- and 30-year government bonds starting September 9.
• That means the government is printing money to buy its own debt because few others want it at current rates — which weakens the dollar and lifts scarce assets like gold and Bitcoin.
• Over $2 billion of bets against crypto were wiped out in 12 hours, forcing traders to buy back in and pushing prices even higher.
• Ethereum, XRP, Solana and Chainlink all broke through key levels in the same wave, with Ethereum shorts losing over $500 million.
• Prices are now heavily overbought, so a pullback would not be a surprise.

Outlook: The bigger trend still looks up over the coming weeks and months, but expect a cool-off once the forced buying runs out.

## Bitcoin Levels

• **Bias:** Bullish medium to long term, cautious short term (overbought).
• **Buy / accumulate:** Long-term accumulation zone around $58K described as a generational buying opportunity; the 60K-67K range has now broken out.
• **Support:** $62K-$62.2K (structural line that held); prior range floor near $60K.
• **Resistance:** $67K cleared, now flipping to support; next major band $72K-$74K.
• **Targets:** $72K-$74K near term, with a larger bull market expected into 2027-2028.
• **Invalidation:** A break below $62K-$62.2K would flip the structure bearish.