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Bitcoin Surges Above $77,000 as Shorts Get Liquidated

8/24/2026

Summary

Story summary

U.S. markets lifted gold to $4,661 per ounce after Federal Reserve (Fed) rate-hike expectations receded.
Gold ETF holdings rose to 4,068 tonnes following $3 billion net inflows in July.
Treasury Secretary Scott Bessent announced the Treasury will double long-term bond purchases, weakening the dollar.
Bitcoin surged above $77,000 on Friday, marking a weekly gain of over 20%.
CoinGlass reported more than $4 billion of bearish crypto positions liquidated as short sellers covered.

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Story summary

U.S. markets lifted gold to $4,661 per ounce after Federal Reserve (Fed) rate-hike expectations receded.
Gold ETF holdings rose to 4,068 tonnes following $3 billion net inflows in July.
Treasury Secretary Scott Bessent announced the Treasury will double long-term bond purchases, weakening the dollar.
Bitcoin surged above $77,000 on Friday, marking a weekly gain of over 20%.
CoinGlass reported more than $4 billion of bearish crypto positions liquidated as short sellers covered.