Fell, because purchasing U.S. Treasury bonds in the market requires spending dollars.

Deep Tide TechFlow News, on April 18, according to a report from Binance Research, the U.S. Treasury plans to issue up to $31 trillion in debt by 2025, reaching 109% of projected GDP and 144% of M2 money supply, setting a historical record. Foreign holders own about one-third of U.S. debt, and a drop in demand may drive up financing costs. This massive issuance could put pressure on risk assets (including cryptocurrencies), but if the government ultimately turns to debt monetization (printing money to fund the deficit), it may actually strengthen the investment thesis for cryptocurrencies.