New Delhi, August 22: Bitcoin, the world’s largest cryptocurrency, is experiencing a significant surge, nearing the critical $80,000 level. This marks the largest weekly gain in three years, drawing renewed attention from investors.
As of Saturday morning, Bitcoin’s price was trading around $78,588. In the last 24 hours, it recorded an increase of 4.8%, while its value has risen by 24.5% over the past week. This is considered Bitcoin’s strongest weekly gain since March 2023.
Market analysts attribute this rally to a significant development in the U.S. bond market. Following the U.S. Treasury’s announcement to double its buyback program for long-term government bonds, yields on long-term bonds have declined. This has increased investor interest in riskier assets, providing support to the crypto market.
Experts suggest that this decision forced many bearish positions to close, leading to the liquidation of billions of dollars in short positions, further driving up Bitcoin prices.
Meanwhile, gold prices have also strengthened, reaching their highest level since May. Investors are concerned that interventions in the bond market could pressure the U.S. dollar, increasing demand for alternative assets.
The crypto market received positive signals when former U.S. President Donald Trump met with executives from major crypto firms like Coinbase Global and Payward. Investors interpreted this as a sign of a relatively favorable administration stance towards digital assets.
The return of institutional investors has also bolstered the rally. This week, the highest inflow into spot Bitcoin exchange-traded funds (ETFs) since January is expected in the U.S.
Overall, over $1 billion has been invested in 13 major Bitcoin ETFs this week, further strengthening the bullish sentiment in the crypto market.
Despite the current rally, Bitcoin remains significantly below its all-time high. In October 2025, Bitcoin reached a record level of approximately $126,000. Following a heavy sell-off, its price dropped to around $58,642 by the end of June 2026.
Market experts believe that if global investor sentiment remains positive and institutional buying continues, Bitcoin could surpass the $80,000 mark in the near future. However, given the highly volatile nature of the crypto market, investors are advised to remain cautious.
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