Bitcoin and gold prices skyrocketed this week, both driven by intense movements in the bond market, while the main international cryptocurrence benefited from political and economic initiatives in the United States, reported the Associated Press.
© Lusa
23/08/2026
by
Lusa
A bitcoin had dropped from a maximum of about 95,000 dollars (82,700 euros) in January to less than 60,000 dollars (52,200 euros) at the end of June, with investors moving away from speculative assets and cryptocurrency defenders were concerned about the lack of progress in sector regulation. However Friday, bitcoin rose again above $77,000 (EUR 67,000).
The gold, however, reached a maximum of US$5,300 in January (EUR 4,610), but fell to around US$4,000 (EUR 3,480) in June, as the rise in interest rates made paid investments more attractive. However on Friday, gold received for 4,661 dollars (4.050 euros).
The first shock arose on Wednesday, when the Treasury Department announced plans to significantly increase long-term government debt buybacks.
On the same day, the President of the United States Donald Trump — who obtained around 1.2 billion dollars (€1.04 billion) in 2025 with cryptoactive participations — appealed to Congress to speed up cryptocurrency legislation.
The reaction was immediate with the sale of dollars and appreciation of gold and bitcoin, with investors looking for alternative assets.
The US Treasury announced that it would at least double the volume of long-term debt purchases in an attempt to calm markets after a surge of sales. The measure raised doubts as to whether the government seeks to reduce financing costs despite inflationary pressures.
Treasury secretary Scott Bessent plans to lower long-term debt costs, which can increase inflation and limit the Federal Reserve action.
On the same day, the United States' national debt exceeded 40 billion dollars (EUR 34,8 billion), just five months after reaching 39 billion (EUR 33.9 billion) in March and 38 billion (EUR 33.0 billion) in October. The rise in debt, combined with the war in Iran and the rise in energy prices, intensified the pressure on the dollar.
Investors channeled funds to alternative assets, such as gold, which rose more than 2% on Wednesday, and bitcoin, which fired more than 20% a week.
Trump organized in the White House a conference on cryptocurrency, advocating the approval of the “Clarity Act”, a bill under discussion in the United States that aims to create a definitive federal regulatory framework for the cryptocurrency and digital assets market, to keep the US “in front of China and everyone else.”.
The chairman of the Commodity Future Negotiation Commission (CFTC), Mike Selig, has promised to “use all available tools” to advance Trump’s agenda, and how many regulators have put forward proposals to facilitate fundraising by crypt companies.
The price of bitcoin had been held between 62,000 and 67,000 dollars (53,900 and 58,300 euros) for weeks. With the announcement of the Treasury buybacks, income fell, the dollar retreated and bitcoin broke the 67,000 dollar barrier (EUR 58,300).
The rise forced investors who had bet on the decline of the cryptocurrency to close positions, which implied new purchases and further fueled the appreciation. By Friday, more than US$4 billion (EUR3.5 billion) in sales positions were settled, according to CoinGlass cryptoactive consultant.