Bitcoin gained about 25%-26% in August 2026, briefly reaching $81,281-$81,500 after weeks below $65,000, before retreating toward $77,000-$78,000. U.S.-listed spot Bitcoin ETFs recorded $3.4444 billion of inflows over nine consecutive trading days from Aug. 17 through Aug. 27, although withdrawals exceeded inflows in the following couple of business days. The rally followed the U.S. Treasury’s Aug. 19 decision to at least double longer-dated bond-buyback operations from $2 billion to $4 billion per operation, alongside a weakening dollar and the so-called debasement trade. Sentiment later deteriorated after Kevin Warsh’s Jackson Hole speech was viewed as hawkish and suggestive of future rate hikes. Regulatory optimism remained tied to the SEC’s proposed token-issuance rules and a Senate vote scheduled for Sept. 15 on the Clarity Act, which would divide digital-asset oversight between the SEC and CFTC. Gold, which rose to $4,700 before falling to $4,300 and more than 8.5% below its local peak, provided a sharper reversal than Bitcoin, which remained about 20% above $64,000.