Foreign media: The key to reviving the Bitcoin bull market is the refinancing announcement issued by the U.S. Treasury on May 1

PANews reported on April 26 that according to CoinDesk analysis, the key to reviving the Bitcoin bull market is the U.S. Treasury's refinancing announcement. The U.S. Treasury will release a refinancing announcement on May 1, detailing three months of borrowing needs and the balance held in the Treasury's general account. As analysts expect U.S. Treasury Secretary Janet Yellen's quarterly refinancing announcement (QRA) next week to ease pressure on risky assets, the broader upward trend may resume soon.

Saxo Bank said the upcoming QRA could bring relief, with total quarterly issuance set to fall from a peak of $7.2 trillion for the first time in two years. Althea Spinozzi, head of fixed income strategy, said: "Total issuance of U.S. marketable Treasury bonds is expected to fall for the first time since the second quarter of 2022. Therefore, the market's focus will turn to the announcement of the Treasury General Account (TGA) level. If the QRA maintains the TGA target at $750 billion or lower, risk assets may rise. If the TGA remains at the current level of $750 billion or lower, it means no change, or more funds may be released into the economy, thereby boosting economic activity."

BitMEX co-founder Arthur Hayes previously released a similar view, saying that the U.S. Treasury will announce a quarterly refinancing announcement next week, which is expected to re-accelerate the crypto bull market.