New Delhi, August 22, 2026 (Yes Punjab News)
Bitcoin surged towards the $80,000 mark on Saturday and was on track for its strongest weekly gain in more than three years, as investors responded to developments in the US bond market and renewed optimism around cryptocurrency.
Bitcoin rose as much as 4.8 per cent over 24 hours and was trading around $78,588 at 9:10 a.m. It gained 0.6 per cent in the previous hour and was up 24.5 per cent over the week, its strongest weekly advance since March 2023.
The rally was driven in part by the US Treasury’s decision to double the size of its buyback operations for longer-dated Treasury securities to at least $4 billion per operation. The move helped push long-term yields lower and supported demand for risk assets, including cryptocurrencies.
The sharp move in Bitcoin also triggered a large liquidation of short positions, further amplifying gains. Spot Bitcoin exchange-traded funds recorded strong inflows during the week, signalling renewed institutional demand.
Gold also advanced as investors assessed the implications of the bond-market intervention for the US dollar and broader fiscal conditions. Bitcoin and gold have both benefited from concerns over currency weakness and rising government debt.
Investor sentiment was also supported by the Trump administration’s continued engagement with the cryptocurrency industry and efforts to advance a regulatory framework for digital assets.
Bitcoin remains well below its record high of nearly $126,000 reached in October 2025. The cryptocurrency subsequently suffered a major sell-off, falling to around $58,642 in late June 2026.
The latest rally nevertheless marks a sharp turnaround for Bitcoin, with the cryptocurrency now attracting renewed attention from both institutional and retail investors.
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