Bitcoin had not approached $80,000 since mid-May. Since then, several corrections have brought it back below $60,000. In recent days, the movement has reversed and the price has risen sharply. Over one week, the increase exceeds 25%, with significant liquidations to boot. It remains to be seen whether the rebound will hold.
In brief
- Bitcoin climbed around 25% in one week, from $63,000 to nearly $80,000, marking its best weekly performance since March 2023.
- A 6% flash crash liquidated $108 billion in short positions in just six minutes, a reminder of the market’s current fragility.
- Scott Bessent’s announcement doubling long bond buybacks reignited the narrative of monetary devaluation, benefiting both bitcoin and gold.
- The next meetings focus on the vote on the CLARITY Act on September 15 and the Fed meeting on September 15-16, with a sales wall at $80,000.
Bitcoin: one of the best weeks since 2023
Bitcoin has just posted its strongest weekly performance since March 2023. Starting from around $63,000, it rose to close to 80,000. The movement was built in stages, with several technical thresholds crossed. But everything was not simple. A 6% flash crash wiped out $108 billion in short positions in six minutes, and 500 million in long positions in around thirty minutes. This is one of the most violent episodes seen since October 2025.
Despite this downturn, bitcoin has regained its height and closer to $80,000. At this level is a significant sell wall, where many traders had bought in May before the drop. If it passes frankly, the zone of 95,000-97,000 dollars could open up. If it blocks, a correction is still possible. The market is divided between those who see it as a continuation and those who expect a reversal.
Bessent, the TGA and the return of the devaluation narrative
The trigger for this rebound is not found in crypto fundamentals, but in American fiscal policy. On August 19, Treasury Secretary Scott Bessent announced the doubling of the long bond buyback programnow set at $4 billion per operation. The objective was to lower 30-year yields, which were around 5.25%, their highest level since 2007.
The result was mixed. Yields haven’t really fallen. In contrast, bitcoin rose 25% and gold gained around 7%. Bessent has a margin via the Treasury General Account, which currently shows $950 billion, compared to $550-600 billion under the Biden administration.
Fabian Dori, from Sygnum, believes that “ this revives the narrative of currency devaluation “. Robin Brooks of the Brookings Institution speaks of a “ era of devaluation “. In this context, bitcoin and gold are once again attracting investors looking for non-sovereign stores of value.
Next Catalysts: CLARITY Act, Fed and $80,000 Resistance
The American Senate must vote on September 15 on the CLARITY Act, a text which concerns the structure of the crypto-asset market. Donald Trump called for its adoption. The Democrats, for their part, are demanding ethical provisions linked to personal investments. The Fed will hold its meeting on September 15 and 16, with a possible rate cut.
Flows into bitcoin ETFs surpassed $1 billion this week. It’s a sign of returning institutional interest. The $80,000 area, however, remains clear resistance in the short term. A clear breakout could turn it into support and open the way towards $95,000-$97,000.
Standard Chartered even estimates that its target of $100,000 by the end of the year could prove too conservative. Traders keep an eye on liquidations, ETF flows and technical signals.
The key figures of the rally
- The price of bitcoin is approaching $80,000 after an increase of around 25% in a week.
- A flash crash liquidated $108 billion in short positions in six minutes.
- Scott Bessent’s announcement on bond buybacks reignited the narrative of currency devaluation.
- The CLARITY Act vote is scheduled for September 15.
- The Fed meets on September 15-16, with a possible rate cut.
Bitcoin is attracting the attention of the entire crypto market. Gold also rose and exceeded $5,000, driven by the same fears of dollar devaluation. Both assets are currently moving in the same direction, a sign of some decline in confidence in fiat currencies. Competition between these stores of value continues.
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