The Dow Jones Industrial Average gained 518 points on Thursday, August 21, representing roughly a 1% advance to close above 53,000. The rally was fueled by the US Treasury doubling its long-term bond buyback operations to at least $4 billion, a move designed to relieve upward pressure on yields that had been weighing on equities. Bitcoin surged approximately 20% over the week, peaking near $79,500 before settling around $77,000, marking its strongest weekly performance in two to three years. US spot Bitcoin ETFs attracted over $1 billion in weekly inflows, lifting crypto-linked equities such as Coinbase, MicroStrategy, and Robinhood, each posting gains in the 5% to 12% range.
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