Bitcoin Hits $80,000 on a Treasury Decision — And the Bond Market Is Already Disagreeing

Bitcoin posted its biggest weekly gain in over 2 years, closing near $77,000 after touching almost $80,000. Gold settled above $4,600 an ounce. And the S&P 500 finished the week down 1.5%. The catalyst wasn't crypto news — it was a U.S. Treasury buyback announcement, and the way different assets read it reveals what investors actually believe about fiscal credibility. Here's the mechanism underneath the move, and the one data point that says the whole trade may be built on a premise the bond market has already rejected.