- Bitcoin surged past $80K, gaining 4.2% in 24 hours and over 25% across weekly and 14-day charts
- A White House crypto event featuring President Trump and plans for U.S. Bitcoin purchases boosted investor sentiment
- The U.S. Treasury’s increased bond buyback program and strong ETF inflows, including $1 billion from BlackRock‘s IBIT, provided additional momentum
- Despite the rally, extreme volatility persists — $550 million was liquidated in 60 minutes on August 22 — and inflation risks from the US-Iran conflict may threaten further gains
The cryptocurrency market is experiencing one of its most significant rallies of 2026, with Bitcoin finally hitting $80K once again and pulling the broader market higher. CoinGecko data shows BTC’s price has climbed 4.2% in the last 24 hours and more than 25% in the weekly and 14-day charts.
Several forces are driving this surge. President Trump held a pro-crypto event at the White House last week, inviting CEOs and founders of major firms, and stated that the U.S. is planning to purchase a large amount of Bitcoin and other cryptocurrencies. That statement may have elevated investor sentiment significantly.
Meanwhile, the U.S. Treasury plans to increase bond buybacks from $2 billion to at least $4 billion, injecting greater liquidity into markets. Farside Investors data shows that BlackRock’s IBIT Bitcoin ETF has purchased more than $1 billion worth of BTC since August 17, 2026.
Despite the rally, the market remains highly volatile. On Saturday, August 22, 2026, $550 million was wiped out within 60 minutes. Bitcoin could face resistance at the $80K level, and inflation in the U.S. remains well above the Federal Reserve’s 2% target.
If a peace deal is not finalized, the ongoing US-Iran conflict could push CPI numbers higher. Higher inflation might lead to an interest rate hike, which could trigger a Bitcoin Price correction.
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