$BTC Surges 6% Past $68,500 After Treasury Announces Major Bond Buybacks**

Bitcoin jumped 6% to breach $68,500 after the U.S. Treasury announced it would double its long-term bond buyback operations from a maximum of $2 billion to at least $4 billion per operation, effective September 9, 2026 . Ethereum surged 8%, Solana spiked 7%, and XRP gained 4% on the session . The announcement knocked 30-year Treasury yields sharply lower from near 19-year highs while the dollar index fell 0.8%, creating the most favorable macro backdrop for crypto in months . Peter Schiff warned the move will send "inflation soaring" since the buybacks are funded through short-term debt issuance, making it harder for the Fed to raise rates