Bitcoin, Ethereum, and digital asset news covering market movements, blockchain technology, regulatory developments, and cryptocurrency industry trends.
Bitcoin climbed more than six percent to approximately $77,188 on Friday as traders evaluated the US Treasury's surprise bond buyback aimed at lowering long-term borrowing costs. The rally occurred alongside global stock market rebounds and President Donald Trump's urging for legislation encouraging cryptocurrency adoption.
Bitcoin surged over 25% this week to an intraday high of $79,500 before settling near $77,700, driven by forced short covering and lighter SEC registration proposals. The rally followed President Trump urging Congress to pass the Digital Asset Market CLARITY Act, lifting crypto-linked stocks like Strategy and Coinbase alongside Ethereum and XRP.
US-listed Bitcoin and Ethereum ETFs recorded their largest weekly inflows since October 2025, drawing a combined $2.6 billion in the seven days ended August 21. Bitcoin funds captured $1.92 billion while Ethereum added $697 million, with trading volume tripling to $22.15 billion.
Joint Cambodian and U.S. anti-drug agencies dismantled a network using cryptocurrency to launder money for the Sinaloa Cartel. Authorities confiscated approximately $7 million in digital assets, seized over 200 kilograms of illegal drugs, and arrested suspects during raids in Phnom Penh and Kandal province.
Bitcoin neared $80,000 on Friday, Aug 21, marking its best weekly gain since March 2023. The rally, driven by a weaker dollar and President Trump's urging of crypto-friendly legislation, coincided with record $606 million in U.S. spot ETF inflows.
The article argues that Bitcoin recently functioned as a 'debasement trade,' decoupling from stocks and correlating with gold following US Treasury Secretary Scott Bessent's bond market interventions. It highlights this week's unusual price action as evidence of Bitcoin's evolving role as digital gold.
Liquidity expert Michael Howell forecasts that Bitcoin will not see significant growth in 2026, attributing recent price declines to AI capital expenditures and U.S. deficits draining wholesale market liquidity. He anticipates the global liquidity cycle will bottom out in 2027, potentially setting conditions for future gains.
Major South Korean cryptocurrency exchanges Bithumb and Upbit have suspended all SAND token deposits and withdrawals following a security breach at The Sandbox. The incident involved attackers minting unbacked tokens on Base and BNB Smart Chain networks, prompting the project to disable bridging functions to isolate the compromised liquidity.
High Roller Technologies is launching its ROLR prediction-markets platform in the U.S. through an exclusive partnership with Crypto.com. The 24-month agreement grants access to Crypto.com's regulatory licenses and liquidity infrastructure, enabling operations in 42 states.
Billionaire Ray Dalio urged investors to reduce bond holdings and allocate up to 15% of their portfolios to gold and Bitcoin. He issued this advice on Friday via LinkedIn, warning that a looming US debt crisis could materialize within three years.