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ETH Bitcoin approaches US$69,000, Ethereum rises sharply due to U.S. Treasury repurchase and SEC proposals
On August 19, 2026, Bitcoin climbed to nearly US$69,000, and Ethereum rose by about 10%. Traders expanded the U.S. Treasury repurchase program into pricing and digested the SEC's new proposal to set clearer rules for crypto financing. These two policy signals turned cautious markets into increased risk appetite, with Bitcoin hitting an intraday high of $69,700 before falling back.
Why Bitcoin is approaching US$69,000, while Ethereum is performing better
After the U.S. Treasury Department decided to expand bond buybacks, Bitcoin hit an intraday high of US$69,700 on August 19, 2026, and then fell back to approximately US$68,500. This trend follows the Treasury Department's announcement and the SEC's crypto proposal the day before. Market data showed that Bitcoin was quoted at US$68,312 million, up 5.61% in 24 hours; Ethereum was quoted at US$2,097.10, up 9.61%. The gains continued the rebound traders had previously pointed to in a treasury-driven short squeeze above $68,000.
In the same risk appetite response, Ethereum performed even stronger, rising about 10%, reaching US$2,000 for the first time since May. This large percentage change reflects Ethereum's greater sensitivity to changes in liquidity and regulatory sentiment.
How the expansion of treasury bond repurchase changes the macro pattern
The U.S. Treasury Department said on August 19, 2026 that it would at least double the maximum size of liquidity-backed repurchase of certain longer-term nominal bonds and increase the ceiling for each operation from US$2 billion to at least US$4 billion. The expanded repurchase measure will take effect on September 9, 2026 and last until November 4, 2026. The Ministry of Finance characterized this change as a long-term liquidity support measure in the government bond market.
An important second interpretation for crypto traders is that larger buybacks relieve long-term pressures and support broader risk appetite, which often benefits liquidity-sensitive assets such as Bitcoin. The same dynamics have reversed recently, when soaring bond yields tested Bitcoin's hedging properties.
Why the SEC's crypto proposal boosts rather than dampens market sentiment
The SEC proposed the "Crypto Asset Regulation" on August 18, 2026, a customized securities framework for crypto issuance. Markets interpret the proposal as clear rules rather than suppression. The proposal includes a one-time exemption allowing issuance of up to $5 million over a four-year period and another exemption for issuance of up to $75 million over a 12-month period. The public comment period will remain for 60 days after publication in the Federal Register. Commissioner Hester Peirce publicly supported the move, describing it as an important step towards clearer encryption rules.
Clearer financing rules have also shaped the way new products enter the market, providing the context for exchanges to expand.
Market data reveals the strength of the rebound and the next trigger
In the market data used in this report, Bitcoin rose 5.61% in 24 hours, and Ethereum rose 9.61%, confirming that Ethereum leads in both breadth and percentage increase. Despite the rise, market sentiment remains cautious. The Fear and Greed Index, at 46, remains in the fear range, indicating that the rebound is ahead of position corrections rather than reflecting broad confidence.
The next policy checkpoints are specific. The Department of Finance's expanded repurchase will begin on September 9, 2026 and last until November 4, while the SEC's 60-day consultation period on crypto asset regulations sets a timetable for feedback on financing exemptions.
Frequently Asked Questions: Treasury bond repurchase, SEC proposal and the trend of Bitcoin
Why did Bitcoin rise to nearly US$69,000?
The U.S. Treasury Department said it would double the repurchase size of at least some long-term bonds, and the SEC proposed clearer crypto financing rules. These two policy signals boosted risk appetite on August 19, 2026 and pushed Bitcoin up.
What is the "Cryptographic Asset Regulation"?
This is a proposal submitted by the SEC on August 18, 2026 to create a tailor-made securities framework for crypto offerings, including a financing exemption of up to $5 million over a four-year period and up to $75 million over a 12-month period, with a 60-day consultation period.
What should traders focus on next?
Key dates include: September 9, 2026, when the Treasury Department's expanded repurchase begins, ending on November 4, 2026, and the expiration of the SEC's 60-day consultation period on crypto proposals.
Disclaimer: This article is for information only and does not constitute financial or investment advice. There are significant risks in the cryptocurrency and digital asset markets. Be sure to study for yourself before making a decision.
