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Crypto

Why bitcoin cannot clear $80,000 as oil surge to $100 adds pressure

Bitcoin erased overnight gains after U.S. stocks opened on Sept. 9, as investors grew cautious ahead of U.S. producer and consumer price data. Major altcoins also fell. Brent crude climbed above $100 a barrel for the first time since July 23, adding pressure on risk assets, while Treasury yields stayed high. Spot bitcoin ETF flows turned negative on Sept. 8. In contrast, Zcash surged on ETF-related developments and the launch of options trading.

Finance

U.S. Treasury to buy back up to $6 billion in Treasuries as yields jump on $40 trillion debt

The U.S. Treasury will buy back up to $6 billion of outstanding nominal Treasuries with 10 to 20 years remaining maturity to boost liquidity in the long-term bond market. The amount is triple the usual per-operation cap, but Treasury yields continued to rise after the announcement. Investors pointed to federal debt above $40 trillion, increased supply and inflation worries, while some criticised the move as risking expectations of larger intervention.

Crypto

Strategy halts bitcoin buying again, redeems $176.3 million of STRC

Strategy stopped buying bitcoin again a week after resuming purchases. It instead redeemed 1,810,885 shares of its STRC preferred stock for $176.3 million and doubled the limit for its digital credit securities repurchase programme to $2 billion from $1 billion. The company did not buy or sell bitcoin from Aug. 31 to Sept. 7 and kept holdings at 845,050 BTC. It said it has $5.1 billion in dollar reserves and $1.44 billion in cash.