Bitcoin Soared 23% This Week: Largest Surge Since 2023

cryptonews.ruPublished on 2026-08-21Last updated on 2026-08-21

Abstract

Bitcoin surged over 23% this week, marking its strongest weekly gain since March 2023. The price briefly approached $80,000, rising from around $71,000, before correcting to approximately $77,800. Key drivers for the rally include US economic news, specifically the Treasury Department's announcement to double its buyback of long-term bonds. This mirrors a similar surge in 2023, which was triggered by US emergency banking sector loans following several bank failures.

Bitcoin has appreciated by 23.56% this week. The leading cryptocurrency hasn't shown such growth since March 2023, according to Coinglass data.

Back then, over three years ago, the bitcoin price soared by 26.49% in a week. This happened against the backdrop of the launch of an emergency bank lending program in the US following the collapse of Silvergate, Silicon Valley Bank, and Signature banks.

In the current situation, one of the growth drivers has also been economic news from the United States, namely the announcement by the U.S. Treasury Department on August 19 about doubling the purchase volumes of long-term 10-30 year government bonds after the yield on 30-year bonds rose to its highest level since 2007.

Today, August 21, the bitcoin price nearly reached $80,000 for the first time since mid-May, gaining over $8,000 in a day. According to CoinmarketCap, it rose from around $71,000 to $79,500.

After the rapid surge, the price of the leading cryptocurrency corrected. As of 1:00 PM Moscow time, it is fluctuating around $77,800.

Related Questions

QHow much did Bitcoin's price increase over the last week, and when was the last time it saw such a significant weekly gain?

ABitcoin's price increased by 23.56% over the last week. The last time it showed a similar weekly gain was in March 2023, when it surged by 26.49%.

QWhat U.S. economic news from August 19th is cited as a driver for Bitcoin's recent growth?

AA driver for the growth was the U.S. Treasury Department's announcement on August 19th about doubling the volume of buybacks for long-term 10-30 year government bonds, following a rise in 30-year bond yields to their highest level since 2007.

QTo what level did Bitcoin's price nearly climb on August 21st for the first time since mid-May, and what was the approximate daily increase?

AOn August 21st, Bitcoin's price nearly reached $80,000 for the first time since mid-May, appreciating by over $8,000 in a day, from approximately $71,000 to $79,500.

QWhat was the context for Bitcoin's major weekly gain in March 2023?

AThe major weekly gain in March 2023 occurred against the backdrop of the launch of an emergency bank lending program in the U.S. following the collapse of Silvergate, Silicon Valley Bank, and Signature banks.

QWhat was Bitcoin's approximate price after its correction following the rapid rise, as of 1:00 PM Moscow time?

AAfter a correction following its rapid rise, Bitcoin's price was fluctuating around $77,800 as of 1:00 PM Moscow time.

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