Bitcoin has surged 40% this quarter, marking its best performance since Q4 2024. The rally is largely attributed to the U.S. Treasury's announcement of a debt buyback program, which aims to lower bond yields. Since the Treasury's announcement on August 19 to more than double its government debt repurchases, Bitcoin's price is up nearly 30%. The cryptocurrency has also benefited from a weakening dollar and renewed interest in 'debasement trades' as total U.S. debt exceeded $40 trillion in July. CryptoQuant reported last week that Bitcoin re-entered a bull market after crossing its 365-day moving average.