Bitcoin hits $80,908 after 23% weekly surge highest since May
Business
Bitcoin just shot up to $80,908 on August 25, 2026, the highest it's been since May. It jumped 23% in a single week, marking its biggest rally in three years.
Still, it hasn't caught up to last year's record high of about $126,000.
Scott Bessent buybacks, $1.92B ETF inflows
The jump came right after US Treasury Secretary Scott Bessent announced more government bond buybacks, a move that made the dollar weaker and crypto more attractive again.
Bitcoin ETFs also saw their largest weekly inflow in 10 months ($1.92 billion), and President Trump's meeting with crypto leaders added some optimism about future regulations.
Plus, a wave of short sellers got squeezed out as prices climbed higher.