Key Highlights
- BTC reclaimed $75,000 territory for the first time since May’s close, jumping 8% within a single day
- President Trump called on lawmakers to advance the Clarity Act, establishing comprehensive crypto regulations
- Treasury Department announced doubling of bond buyback programs, enhancing market liquidity and risk sentiment
- BTC climbed above its 200-day moving average, a milestone not achieved since November 2025
- Weekly gains of 19% mark Bitcoin’s strongest seven-day stretch since February 2024
Bitcoin shattered the $75,000 threshold late Thursday during U.S. trading hours, marking its first return to these heights since May concluded. The digital asset peaked at $75,591 during intraday trading before stabilizing near $75,400, representing an approximately 8% climb over a 24-hour period.
This impressive surge positions Bitcoin for its most successful week in more than 24 months. With a 19% weekly advance, BTC is experiencing its most powerful seven-day performance since the February 2024 period.
Market analyst James Check highlighted the dramatic reversal in sentiment as Bitcoin pierced the $75,000 level. “Price pain capitulation in February,” he observed. “Time pain capitulation in June. Bears in pain, right now.” Check’s analysis emphasized how sellers have exhausted their momentum following extended months of bearish pressure.
The broader cryptocurrency market participated in the rally. Ethereum climbed 4.8% to approximately $2,376, while XRP dominated major digital assets with a 16% surge to $1.29. Across the weekly timeframe, Ethereum posted 25% gains and XRP advanced 28%.
Presidential Support for Clarity Act
One significant catalyst behind the rally emerged from President Donald Trump’s advocacy for the Clarity Act during a recent White House cryptocurrency summit. This legislation seeks to create comprehensive regulatory guidelines for America’s digital asset sector.
JUST IN: šŗšø President Trump says “We need Congress to take the next step by passing The Clarity Act.”
“And this landmark structure legislation is very, very powerful structure which will keep us ahead of China, keep us ahead of everyone else.” pic.twitter.com/0BwWWQcySP
ā Bitcoin Magazine (@BitcoinMagazine) August 19, 2026
Congressional progress on the Clarity Act has encountered obstacles due to disputes regarding cryptocurrency classification methods and provisions governing stablecoin yield treatment. Officials have not established a concrete timeline for the bill’s passage.
Treasury Department’s Liquidity Injection
The U.S. Treasury Department contributed another powerful catalyst, revealing plans to expand bond buyback operations substantially. The maximum threshold per operation increased from $2 billion to a minimum of $4 billion, with implementation scheduled for September 9.
This initiative targeted enhanced liquidity within long-dated Treasury markets, driving yields downward while elevating risk appetite throughout financial sectors. Bitcoin has accumulated over 13% in gains following Wednesday’s announcement.
Cryptocurrency trader Daan Crypto Trades shared on X that BTC was “trying to move above the bull market support band and weekly 200EMA.” He continued: “Above the green zone I would be confident that we see a move back to the May highs too. But let’s take it step by step.”
$BTC Trying to move above the bull market support band and weekly 200EMA in this weekly candle.
All very important levels, just like the $73K-$74K horizontal.
Above the green zone I would be confident that we see a move back to the May highs too.
But let’s take it step by stepā¦ pic.twitter.com/YyJALFdS8A
ā Daan Crypto Trades (@DaanCrypto) August 20, 2026
Bitcoin successfully crossed above its 200-day moving average, accomplishing this technical feat for the first time since November 2025, approximately one month following BTC’s record peak exceeding $126,000. Charting service Barchart identified this significant development on Thursday.
JUST IN šØ: Bitcoin $BTC gets above 200-day moving average for the first time since November 2025 š š¤ š„³ pic.twitter.com/vAhNTT2wfc
ā Barchart (@Barchart) August 20, 2026
Geoff Kendrick from Standard Chartered suggested the Treasury’s buyback program expansion could propel Bitcoin toward $100,000 before the year concludes.
At press time, BTC was exchanging hands around $75,400, having decisively escaped the $60,000ā$70,000 trading corridor that confined price action throughout most of 2026.
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