Bitcoin shattered $80,000 after a $148 billion US liquidity shock failed to break markets
Summary
Bitcoin rose from about $76,147 to above $80,000, trading near $82,000, while a $148 billion increase in the US Treasury General Account did not trigger a broad funding-market squeeze. Bank reserves fell, but overnight repo rates stayed within the Federal Reserve’s policy corridor. SOFR’s increase largely tracked the Fed’s 25-basis-point rate hike, with any added pressure from tax-related cash demand appearing limited. Bitcoin’s recovery coincided with spot ETF inflows, a technology-led stock rally and yen weakness; the data do not show the Treasury transfer directly driving demand. Traders will watch whether buyers sustain the rebound and whether funding costs rise again.
