Bitcoin Blasts Past $81,000 Amid Treasury Bond Buyback Rumors

Bitcoin's price broke through $81,000 on August 24, marking one of its strongest moves in 2026. The token climbed more than 4% in 24 hours and reached a peak of $81,255 at 10:45 p.m. EST before settling above $80,500.

This push sent Bitcoin's market cap to nearly $1.62 trillion. Over the past week and two weeks, gains topped 25%. The rally also cut bitcoin's year-to-date losses to 8%, down from 9.5% less than half a day earlier.

The surge was not limited to just Bitcoin. Traders betting against the token faced heavy losses as $282 million in short positions were wiped out over 24 hours, accounting for 62% of all short liquidations across the crypto market that day.