The U.S. Treasury Department will begin the active phase of its government debt buyback program on Monday, Sept. 7, 2026, with a weekly operational limit of $14.5 billion and potential Treasury sessions totaling $16.5 billion. Most activity is scheduled for Wednesday, Sept. 9. Under Secretary Scott Bessent, the Treasury will double the per-session limit for long-term securities maturing in 10 to 30 years to $4 billion from $2 billion. The department plans to remove approximately $38.25 billion of bonds from the market in September, while the Federal Reserve will allocate up to $2.122 billion to short-term Treasury bill purchases through its planned reinvestment of principal. Financial-market participants are discussing whether the liquidity flow could support another phase of the crypto rally. Bitcoin is trading just below $80,000, with a concentration of short-liquidation levels between $79,500 and $82,000. Traders expect activity among primary dealers to potentially trigger a short squeeze (forced buying after short positions close) if prices break higher. XRP is approaching $1.45 amid net inflows exceeding $1.66 billion into U.S. spot XRP ETFs, while traders are watching a potential move through $1.70 toward $2. The Treasury’s liquidity operation is scheduled ahead of a key U.S. Senate vote on the CLARITY Act on Sept. 15. Analysts caution that the program is not full-scale quantitative easing: It replaces long-term obligations with short-term borrowing rather than creating new money. If the buybacks overstimulate the economy, the Federal Reserve could keep interest rates higher for longer, limiting crypto-market growth. Short-term attention remains on the Sept. 9 liquidity flow and the response of Bitcoin and XRP through the fall of 2026.