Bitcoin reached $79,200 on Friday morning before retreating to $77,500, while a later 8 a.m. Eastern Time snapshot on Aug. 21, 2026, put it at $76,712.47, up 6.58% from the previous morning. The rally reflected spot buying, exchange-traded fund (ETF) demand, short covering, Treasury bond-buyback expectations, lower long-term yields and a weaker dollar. Mati Greenspan of Quantum Economics said the pattern resembled a market bottom and that fear of missing out could intensify, while Jason Fernandes of AdLunam said sustained spot ETF inflows and clearer rate easing were needed before declaring the bear market over. Bitcoin remained the largest digital asset by market value, with a market capitalization of roughly $1.33 trillion versus Ethereum’s approximately $233 billion, but its volatility and long-term outlook continued to divide investors.