Bitcoin crossed the 80,000-dollar threshold on August 25, for the first time since mid-May, reaching a three-month high. The cryptocurrency gained approximately 23% during the week of August 17-23, its best weekly performance since 2023, driven by massive short liquidations totaling over 465 million dollars in just minutes. The U.S. Treasury contributed to this rise by doubling its long-term bond repurchase program to 950 billion dollars, a move interpreted as financial repression pushing investors toward hard assets. Spot Bitcoin ETFs attracted 1.92 billion dollars in net flows between August 17 and 21, their best week since last October. The market now awaits Fed Chair Kevin Warsh’s speech at Jackson Hole on August 28.
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