Bitcoin’s Best Week in Two Years Fuels Broad Altcoin Rally

Bitcoin’s rebound has been driven by spot and exchange-traded fund demand, short covering and expectations of improved liquidity after the U.S. Treasury expanded its buybacks of longer-dated debt. Optimism over U.S. crypto market-structure legislation added to risk appetite, encouraging traders to rotate from bitcoin into more volatile tokens. The breadth of the advance matters because participation beyond the largest cryptocurrencies can signal a more durable recovery than a rally powered mainly by leveraged positioning.

Bitcoin held above $77,000 on Aug. 24 after gaining 21% over the week and briefly topping $79,000 on Aug. 21, its strongest weekly performance in two years. XRP rose 46% over the same stretch, while Hyperliquid’s HYPE gained about 37% and reached a record near $78; Zcash’s ZEC and Chainlink’s LINK advanced more than 30%. Investors are now watching Federal Reserve Chair Kevin Warsh’s first Jackson Hole address on Aug. 28 for signals on rates and liquidity.