Bitcoin is holding near $77,500 after a 22% weekly surge driven by political optimism around cryptocurrency regulation, marking its best week since March 2023. The cryptocurrency has climbed from roughly $64,135 on August 18 to above $77,000 by late August, fueled by a White House meeting and fresh policy signals.
The rally accelerated after President Donald Trump hosted crypto and digital asset leaders at the White House on August 19, 2026, where he urged Congress to pass the stalled Clarity Act. The legislation is designed to establish clearer market structure rules for digital assets, a long-sought goal of the crypto industry.
Bitcoin broke above $70,000 for the first time since early June on August 20, extending the rally. The move was fueled in part by a record $2.7 billion short squeeze, according to Investing.com, as traders who had bet on lower prices were forced to cover their positions. By August 21, Bitcoin had surged past $77,000, completing what analysts called its strongest week since March 2024.
The timing of the Trump administration’s crypto push marked a significant shift in regulatory sentiment. Treasury yields pulled back during the rally period, which also contributed to renewed investor interest in risk assets like Bitcoin. Bitcoin surged above $70,000 after Trump met with crypto leaders, and the momentum carried through the following days as traders assessed the implications of potential legislative clarity.
Bitcoin’s previous best weekly performance of a similar magnitude occurred in March 2023, according to AdvisorPerspectives. That earlier rally followed distinct market conditions, but both episodes reflect how policy announcements and regulatory clarity can trigger rapid repricing across the crypto market.
The current price level of $77,500 represents Bitcoin holding near the highs of the week, though it remains volatile. Market participants are watching whether the rally can sustain if Congress moves forward with the Clarity Act or whether resistance emerges at technical levels above $78,000, where the cryptocurrency briefly traded during the week’s peak.
Sources
- CNBC — confirmed 22% weekly gain and investor optimism driving Bitcoin rally
- CoinMarketCap, Binance, Kraken, Coinbase, CoinDesk — live Bitcoin price data near $77,000–$77,500 on August 24, 2026
- Fortune — Bitcoin price at $64,135.48 on August 18, 2026
- Wall Street Journal — Trump backed Clarity Act; Bitcoin rallied 5.5% to $72,280
- Reuters — crypto shares surged after Trump’s Clarity Act comments; Bitcoin crossed $70,000
- Forbes — Bitcoin soared above $70,000 after Trump’s White House crypto event on August 20
- Fox Business — Trump hosted crypto leaders at White House to discuss Clarity Act
- AdvisorPerspectives — Bitcoin’s 22% weekly gain would be biggest since March 2023
- Investing.com — Bitcoin surged 10.52% to $71,750 on August 20, fueled by $2.7 billion short squeeze
- Barron’s — Bitcoin on track for best week in over two years, up 23% since Monday
- CoinStats — Bitcoin trading at $77,716.01 on August 24, up 23.53% over seven days
