Dollar at a 2.5-Month Low, Gold Above $4,400, Bitcoin +8%: One Decision Moves Everything

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk.

Some trading days have three markets telling the same story. August 19, 2026 was one of them: the dollar index DXY fell roughly 0.9 percent to around 98.8, its lowest level since May 29. Gold climbed more than 2 percent to about $4,480 per ounce, its highest since early June. And Bitcoin jumped as much as 8 percent to $69,749 intraday, trading at $68,361 in the European evening (CoinMarketCap, 21:45 CEST; dollar and gold data: Barchart and FXStreet, August 19, 2026).

A weak dollar, strong gold and a surging Bitcoin on the same day are not a coincidence but three reactions to the same decision: the US Treasury is doubling its buybacks of longer-dated government bonds.

The decision that set it all off

On August 18, the US Treasury announced it would double its liquidity support buybacks at the long end from $2 billion to at least $4 billion per operation, effective September 9 through November 4, 2026. The 30-year US yield, which had hit 5.337 percent the day before, its highest since 2007, fell back to 5.189 percent.

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