Explained | How Bitcoin rally led to skyrocketing of crypto stocks | What's fuelling surge of both? Climbing in tandem

New Delhi, Aug. 22 -- Bitcoin price surge, crypto stocks rally: Following US Secretary Scott Bessant's announcement to double the size of its long-dated bond buybacks, Bitcoin prices skyrocketed last week, registering the biggest weekly rally in three years. The original cryptocurrency surged up to 23% last week and came close to the psychological $80,000 level, last seen in May 2026. Currently, the Bitcoin price is oscillating around $75,000, showing a weekly gain of over 21%.

Highlighting the reason for the Bitcoin price surge, Rachael Lucas, an analyst at BTC Markets, told Bloomberg, "The real driver was the US Treasury doubling long-dated bond buybacks, which pulled long yields lower and lifted risk appetite broadly. Nothing has rewritten Bitcoin's long-term case, but nothing's rewritten its volatility either."

"Treasury move eased a bond-market selloff that had pushed 30-year yields to 2007 highs, and lower yields tend to support risk assets like Bitcoin because they reduce the appeal of safe cash-like returns. Treasury intervention signalled liquidity support, which crypto traders read as a green light for scarce, global assets," said Seema Srivastava, Senior Research Analyst at SMC Global Securities.