Why an announcement from the Treasury sparked a rally in gold and bitcoin this week

Cryptocurrencies and precious metals shot higher, while the U.S. dollar weakened, after the Treasury Department said it planned to double its bond buybacks.

Market Watch • 15 hours ago

Bitcoin on track for 20% weekly gain as investor optimism floods back

Bitcoin rose above $75,000 early Friday and is on track for a weekly gain of 20%. The rally began Wednesday when Treasury yields pulled back sharply following Bessent's intervention in the bond market.

CNBC • Aug 21, 2026

Kalshi traders think the bitcoin rally could end the year near current levels

Bitcoin has rallied ferociously this week after the U.S. Treasury intervened to stop a sell-off in bonds and industry leaders and regulators rallied at the White House to put pressure on Congress to approve the Clarity Act market structure proposal. But traders on prediction market platform Kalshi think that the cryptocurrency likely will end the year near current levels, doubting the coin's rally will go much higher or last.

CNBC • Aug 21, 2026

Bitcoin's best week since 2023: Here's what you need to know

CNBC's Tanaya Macheel reports on historic high for Bitcoin, renewed demand for Bitcoin ETFs and the push for the CLARITY Act from the White House and crypto leaders.

CNBC Television • Aug 21, 2026

Ray Dalio says Bessent move is sign that a debt crisis is getting closer; recommends gold and bitcoin

Billionaire investor Ray Dalio said the the debt buyback announcement this week fits into a larger pattern that could signal a looming debt crisis. Dalio recommended investors look to gold and bitcoin.

CNBC • Aug 21, 2026

Everyone was waiting for $45,000. Bitcoin nearly touched $80,000.

Bitcoin is up roughly 24% this week, its strongest since 2023, and touched nearly $80,000. Everyone who spent the summer waiting to buy back at $45,000 is now watching from the sidelines.

Yahoo Finance • Aug 21, 2026

Bitcoin Tops $75,000 For The First Time Since May As Crypto Surge Continues

On Wednesday evening, Trump hosted several crypto executives for an event at the White House, a day before the Commodity Futures Trading Commission is set to hold its first meeting of its Innovation Advisory Committee. At the event, Trump called on Congress to pass the long-stalled CLARITY Act, which is backed by the crypto industry and will establish legal guidelines on digital assets.

Forbes • Aug 21, 2026

Crypto Assets Rally on Clarity Act Push: What's Next for Bitcoin & Legislation?

Benjamin Peillard discusses the Clarity Act and how he sees the bill setting up needed guardrails for Bitcoin and other cryptocurrencies. Crypto-tied assets surged after President Trump called on Congress to pass the Clarity Act.

Bitcoin's "Coiled Spring" Jump, Clarity Act Pivot Point & Miners' Data Center Move

The Treasury doubling liquidity on some long-term debt buybacks in bonds is what Sam Callahan points to as the key driver backing the crypto rally. He adds that Bitcoin experiencing low volatility in recent months, backed by bullish expectations on the Clarity Act, added to the "coiled spring" leap ion futures trading.

Bitcoin on track for best week in more than two years. Has the next crypto bull market arrived?

Is bitcoin ready to move on after a lengthy slump? One analyst says investors should be careful in trying to guess a bottom for the crypto.

Market Watch • Aug 21, 2026