Bitcoin Climbs $1,661 to $78,976 as Treasury QE Speculation Lifts 2-Month High
Updated
Updated · Fortune · Aug 24
Bitcoin Climbs $1,661 to $78,976 as Treasury QE Speculation Lifts 2-Month High
3 articles · Updated · Fortune · Aug 24
Summary
$78,976.18 marked Bitcoin's 9 a.m. ET price on Aug. 24, up $1,661.69 from the prior morning and pushing the token near $79,000.
The latest leg higher followed a broader rally tied to speculation the U.S. Treasury could inject liquidity using its nearly $1 trillion general account after announcing larger long-term bond buybacks.
That rebound has been sharp but incomplete: Bitcoin was still about $34,477 below its level a year earlier and roughly 37% under its Oct. 6, 2025 all-time high of $126,198.07.
Institutional demand has also supported the move, with U.S. spot Bitcoin ETFs drawing $1.6 billion in net inflows as traders increasingly bet on improving crypto liquidity and regulation.