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Bitcoin Surges Past $65K to Multi-Month Peak Amid Inflation Hedges

Guavy AI Editorial Team Published August 22, 2026

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BTC

Bitcoin surged past $65,000 resistance to reach a multi-month peak of $79,491 before settling near $77,300.

The rally wiped out $709 million in BTC short bets out of $1.13 billion marketwide, according to Coinglass data.

Peter Schiff noted that inflation hedges are rising as prediction markets bet BTC will finish 2026 in the green.

Despite a sell-off wave earlier Thursday evening, Bitcoin recovered and remained above $75,500 for several hours before pushing towards its peak.

The cryptocurrency's market capitalization rose to $1.55 trillion, contributing to a broader market capitalization of $2.63 trillion.

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