U.S. Treasury Bond Auctions: November Schedule and Impact
The U.S. Treasury will conduct bond auctions totaling $1.25 trillion in November. These issuances are scheduled for November 10, 12, and 13, and are a regular component of the government’s debt management strategy. Specifically, bonds totaling $58 billion over three years will be available on November 10, followed by $42 billion over ten years on November 12, and $25 billion over thirty years on November 13.
The increased supply of U.S. sovereign debt is closely watched for its impact on global dollar liquidity. This can potentially influence investor allocation between traditional and digital assets. Historical U.S. Treasury auctions have often tightened liquidity, affecting risk appetite and broader market dynamics.
Large Treasury issuances suck dollar liquidity out of the system, often setting the stage for crypto volatility if risk appetite suddenly changes. — Arthur Hayes, Former CEO, BitMEX
Bond Auctions and Potential Crypto Market Volatility
Historical U.S. Treasury auctions, such as those observed from 2020 to 2023, have historically reduced dollar liquidity. This reduction in liquidity can create downward pressure on risk assets, including cryptocurrencies like Ether and Bitcoin.
As of November 5, 2025, Bitcoin (BTC) was trading at $103,945.71 with a market capitalization of $2.07 trillion. In the preceding 24 hours, Bitcoin experienced a gain of 3.69%, but over the past week, it showed a decrease of 6.57%, indicating potential volatility.
Market analysts highlight that the current bond auction may alter traditional financial and crypto market flows. Thorough assessments suggest potential shifts in risk appetite as liquidity dynamics evolve and market participants brace for these impacts.