Bitcoin added roughly $416 billion in market capitalization over nine weeks, rising from the low-to-mid $60,000s in early August to peaks above $79,000 before settling between $77,000 and $78,000 by late August. With a market value of approximately $1.54 trillion, it briefly overtook Meta Platforms to rank as the 13th-largest asset globally. Crypto sentiment also surged, with the Fear & Greed Index reaching 78, its highest level since December 2024 and a reading associated with extreme greed. A key catalyst emerged on August 20-21, when the Treasury said it would expand its long-term bond buyback program, increasing the operational cap from $2 billion to at least $4 billion per operation. The additional demand for existing bonds pushed yields lower, making safe-haven assets less attractive and risk assets more appealing, with some capital moving into crypto. Bitcoin rose $14,264 in one week to close at $77,387, a 22.7% gain and its largest-ever single-week increase in dollar terms. More than $3 billion in bearish positions were liquidated within 48 hours in a short squeeze, forcing traders who had bet against Bitcoin to buy back into the rising market and accelerating the move. Bitcoin spot ETFs recorded $1.92 billion in net inflows during the week ending August 21, the highest weekly total since late 2025. Launched in early 2024, the products have become a primary channel for institutional investors, including pension funds, endowments and registered investment advisers, to gain Bitcoin exposure through standard brokerage infrastructure. Falling Treasury yields encouraged portfolio managers reallocating toward risk assets to use Bitcoin ETFs available through those accounts.