Analyst: Bitcoin is expected to hit $180,000, and US bond buybacks may become a new catalyst

Comparing news, macro strategist Mark Connors said that the US Treasury plans to regularly repurchase long-term treasury bonds, which could be an important catalyst for Bitcoin's next rise and create conditions for BTC to reach its $180,000 target.

Connors believes that the US Treasury's involvement in the bond market is an important sign that the government is coping with the pressure of rising long-term borrowing costs. He said that higher US bond yields will attract capital flows to the treasury bond market, thereby weakening capital inflows from risky assets, including cryptocurrencies; if repurchase operations support bond prices and reduce yields, it may ease the macroeconomic pressure faced by Bitcoin. It is estimated that in the future, the amount of US Treasury support may expand to $10 billion to $30 billion per month, far higher than the current amount of $4 billion.

Connors previously anticipated that Bitcoin might wait until around November to usher in the next phase of its rise, but currently he believes that the pace of the market may be ahead of schedule. He said that if the US further adjusts supplementary leverage ratio (SLR) rules to allow banks to hold more US Treasury bonds, it may become an important factor driving Bitcoin's breakthrough. “When this change happens, Bitcoin will begin looking for its first target price of $180,000.” Connors display. He anticipates that the Bitcoin price range from the current cycle to 2030 could reach $180,000 to $360,000.