Why Bitcoin Broke Through $79,000: Treasury Repurchase and $1.9 Billion of ETF Capital Inflow Driving the Rise
2026-08-24 21:58:16
According to CoinMeta, as reported by Coinpaper, the recent breakthrough of Bitcoin price above $79,000 was mainly driven by the Treasury Department's bond repurchases and a inflow of $1.9 billion in ETF funds. On August 21st, Bitcoin price reached around $79,500, the highest point in three months, with an increase of over 20% during that period. On August 24th, Bitcoin price fell back to around $77,000. The U.S. Treasury Department decided to at least double the scale of liquidity support for 10 to 30-year Treasury bonds, increasing from $2 billion per operation to at least $4 billion, with the aim of improving the liquidity of long-term securities. The market reacted quickly, with long-term yields initially declining and the dollar weakening, prompting investors to turn to scarce assets such as Bitcoin and gold. According to Farside data, U.S. spot Bitcoin ETF attracted inflows of $517.2 million and $606.3 million on August 19th and 20th respectively, with the total inflow of Bitcoin ETF funds for the week amounting to about $1.9 billion. At the same time, the total funds attracted to Bitcoin and Ethereum products were approximately $2.6 billion, indicating a rebound in institutional demand.
Source:Coinpaper
This content is for market information only and does not constitute investment advice.
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