Bitcoin and ether prices surged to multi-month highs as U.S. Treasury buybacks expanded and the Securities and Exchange Commission unveiled proposed crypto regulations.
Bitcoin climbed to $69,000, its highest level in two months, while ether rebounded to $2,000, marking its first rise above that threshold since May. The U.S. Department of the Treasury increased its liquidity support buybacks for longer-dated securities, raising operation sizes to at least $4 billion per transaction. The move follows a broader expansion of Treasury buyback programmes, which remain in effect until November 4.
The SEC proposed “Regulation Crypto Assets,” which would exempt certain crypto investment contracts from registration requirements, provided they meet specific thresholds. Under the rules, exempt offerings could raise up to $5 million over four years or $75 million annually. The proposal aims to clarify regulatory frameworks for crypto issuances while balancing investor protection.
Market activity reflected heightened optimism, with total liquidations over 24 hours reaching $1.92 billion, though figures may exceed reported levels due to reliance on public data. VanEck noted Bitcoin’s correction phase may be nearing its end, citing eight of 12 capitulation signals observed in recent trading.
Paul Howard of Wincent highlighted the Fed’s increased Treasury buybacks as a catalyst for Bitcoin’s recent momentum. Separately, President Donald Trump met with crypto executives at the White House on Wednesday, though no immediate policy changes were announced.
Crypto-linked equities, including Fold Holdings, BitGo, and American Bitcoin Corp, also saw gains, reflecting broader market sentiment. The Block, a media outlet tracking crypto price data, reported the movements, while Foresight Ventures—its majority investor—remains a key player in crypto-focused venture capital.
Written by Steven Cook
Regulation Desk
