Copper Hits Historic High as US Bond Buybacks Fuel Hard Asset and Bitcoin Rally
Copper closed at an all-time high of $6.71 per pound while Bitcoin breached $81,000 following the US Treasury's expanded bond buyback program. The doubling of Treasury buybacks to $4 billion is fueling global debasement bets across hard assets and crypto alike. Massive short liquidations signals that capital is actively fleeing fiat as dollar weakness accelerates.
Copper futures just hit a record closing high of $6.71 per pound as tight physical supply overlaps with aggressive US monetary policy. London Metal Exchange stockpiles dropped 14% since July while major smelter disruptions constrained supply, setting the foundation for a historic squeeze across commodities.
The catalyst supercharging this move is the US Treasury doubling its bond buyback cap to $4 billion, a policy move markets interpret as stealth liquidity injection. The resulting hit to the dollar index pushed gold past $4,600 and sent silver charging higher alongside traditional metals.
Bitcoin is riding the exact same wave, surging past $81,000 as over $4 billion in short positions were wiped out in hours. As central bank balance sheet expansion accelerates fiat debasement, capital is aggressively rotating into scarce assets across both traditional finance and crypto markets.