Bitcoin Surges 23% in Biggest Weekly Gain Since March 2023
Crypto markets have seen a significant surge in recent weeks, with Bitcoin (BTC) experiencing its biggest weekly gain since March 2023. According to Bloomberg, BTC gained around 23% in the week ending August 24, 2026, reaching a price of approximately $79,500.
The rally is attributed to several factors, including Treasury Secretary Scott Bessent's statement that the department would expand its bond buyback program, which has lowered yields and pushed traders into riskier assets. Additionally, President Trump met with industry leaders during this period.
Coinbase has also made headlines by expanding its Bitcoin-backed mortgage product to general availability, allowing eligible US buyers to pledge BTC toward a down payment without selling it. This move is seen as a significant step forward for mainstream adoption of digital assets.