Bitcoin Surges 22% in a Week, Best Weekly Rally in Over 3 Years

PUBLISHED Aug 21, 2026, 5:27 PM ET

Bitcoin climbed to roughly $77,000 on Aug. 21, extending a weekly rally of about 22% and putting the cryptocurrency on track for its strongest week since March 2023. Bloomberg reported the rally followed the Treasury’s Aug. 19 announcement that long-dated bond buybacks would at least double, while President Donald Trump urged Congress to advance the stalled CLARITY Act during a White House meeting with crypto executives. CoinGlass data cited by Bloomberg showed nearly $2.5 billion in leveraged bearish Bitcoin positions liquidated over three days, alongside $4.5 billion across crypto assets. U.S.-listed spot Bitcoin ETFs had attracted more than $1 billion during the week, according to Bloomberg. Coinbase and Strategy shares also advanced. The rally reflects several factors rather than a single confirmed cause, including lower long-term yields, renewed ETF demand, short covering and regulatory optimism. Bitcoin remained well below its record above $126,000 reached last October. Future performance remains uncertain.

By Lauren Mitchell | JQJO News

Media Bias

Articles Published:: 19
Right Leaning:: 4
Left Leaning:: 1
Neutral:: 14

Explain Framing

Left: Left coverage emphasized policy ethics, conflicts, regulation, and distributional risks. Center: Center coverage emphasized price action, catalysts, flows, liquidations, uncertainty remaining. Right: Right coverage emphasized pro-growth regulation, liquidity, markets, and competitiveness abroad.