Buyback couldn't even stop it: Bitcoin wobbles at $78,000 amid surging interest rates and oil prices

Summary

The panel discussed Bitcoin's struggle below $80,000 after a smaller-than-expected US Treasury buyback and rising long-term yields, with next week's Clarity Act Senate vote a key policy catalyst. They also examined Bitmine's aggressive Ethereum accumulation toward a 5% supply target and its Strategy-like role as an indirect Ethereum equity proxy. Additional topics included Korea's STO roadmap, the failure of early token securities firms, and Upbit's first-ever listing cancellation of Haemi.

• US Treasury announced a maximum $60 billion buyback, below estimates of $70-100 billion, triggering disappointment selling.
• The 10-year Treasury auction was strong, but long-term yields rose and Bitcoin fell back below $80,000.
• Clarity Act Senate cloture vote next week is seen as a major crypto policy catalyst, with passage odds near 34%.
• Bitmine holds about 4.9% of Ethereum supply, stakes 85%, and aims for a symbolic 5% target.
• Bitmine is positioning as an Ethereum proxy similar to Strategy's Bitcoin proxy strategy.
• Korea's STO roadmap begins in 2027, but listed stock tokenization was excluded and early STO firms are struggling.
• Upbit cancelled Haemi's listing just before trading for the first time, warning investors about listing announcement risk.