The US Treasury has revised its borrowing estimate for the fourth quarter of 2025 down to $569 billion, a decrease from the previous $590 billion forecast. This adjustment is attributed to a stronger-than-expected cash position of $891 billion as of early October, bolstered by improved tax revenues and efficient cash management. The reduction in borrowing needs may alleviate pressure on bond markets, potentially stabilizing yields and indirectly supporting the cryptocurrency markets, including Bitcoin and Ethereum. Despite this adjustment, the Treasury's borrowing plans for early 2026 remain substantial at $578 billion, reflecting ongoing fiscal requirements.