Bitcoin posted its largest weekly gain measured in dollars in history, rising $14,264 to close the week ended Aug. 23 at $77,387, according to The Block. The move represented a 22.7% increase over seven days and marked the cryptocurrency’s strongest dollar-denominated weekly performance on record.
The advance was supported by renewed institutional demand. U.S. spot bitcoin exchange-traded funds attracted $1.92 billion in net inflows in the trading week ended Aug. 21, the largest weekly total since the height of the prior cycle in October 2025, data cited by The Block showed. Ether ETFs also saw strong inflows, contributing to broader market momentum that lifted several major tokens into double-digit weekly gains.
Macro catalysts played a central role. On Aug. 19, the U.S. Treasury Department announced it would at least double the size of liquidity-support buyback operations for longer-dated nominal coupon securities in the 10- to 30-year segments, raising the per-operation maximum to at least $4 billion, as reported by Bloomberg. Treasury Secretary Scott Bessent later indicated the size could exceed that figure depending on market conditions. The announcement initially eased long-term yields and supported risk assets, including bitcoin, which briefly approached $80,000 before consolidating near $77,000.
Strive Chairman and CEO Matt Cole highlighted bitcoin’s performance against both the dollar and gold. In a post on X, Cole wrote that the breakout “reinforcing my view that the next Bitcoin cycle will be the strongest we have ever seen,” citing structural forces including a potential secular decline in the dollar and rising demand for scarce assets in an AI-driven environment. The Block reported Cole stating the comparative strength “shows that the next bitcoin cycle will be the strongest we have ever seen.”
Bitcoin held above $77,000 into the new week as traders monitored upcoming events including the Jackson Hole symposium, according to CoinDesk. While the rapid advance has raised questions about near-term consolidation, the combination of ETF demand and liquidity signals has shifted market focus toward whether the gains can be sustained.
