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Bitcoin breaks $79,500, sparking hopes for a new crypto bull market amid regulatory progress.

Market News
23 Aug 2026
CoinMarketCap
View Source
Bullish
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Bitcoin surged over 20% to $79,500, signaling a potential new bull market as analysts note this is a major volatility-adjusted move not seen since 2018. The rally was supported by Ether and Hyperliquid gains, and was influenced by US Treasury's increased debt buybacks, interpreted as yield curve control, which is bullish for crypto and gold. Regulatory momentum is building with the White House hosting a crypto summit and agencies like the SEC and CFTC pushing forward on crypto rules, even if the CLARITY Act stalls. Institutional and retail investors are aligning with increased ETF inflows and Bitcoin treasury purchases, suggesting sustained demand could extend the rally. Key upcoming events include the Senate vote on the CLARITY Act and the Jackson Hole Economic Policy Symposium, which may impact market direction.

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