About 280 of the top 300 cryptocurrencies by market capitalization advanced over the week, with Bitcoin and Ether leading a rebound that spread across major altcoins and smaller thematic tokens. CoinMarketCap data on Aug. 22 showed double-digit gains for Ether, Solana, XRP, Bitcoin Cash, Dogecoin, Cardano, Avalanche and Chainlink, while Ethena, Official Trump, Book of Meme, Bitway and other tokens posted even larger increases. The rally followed President Donald Trump’s push to advance the CLARITY Act, a US crypto market-structure bill, and the US Treasury’s plan to expand Treasury buybacks. Short covering (buying back borrowed assets to close bearish trades) also added momentum. Analysts remain cautious, saying the advance may reflect policy expectations, lower long-term Treasury yield expectations, liquidations and fund rotation rather than the start of a durable altcoin bull market. Total crypto market capitalization rose to $2.51 trillion, while the Crypto Fear & Greed Index reached 72. Confirmation would require Bitcoin to hold its recovery, including above its 200-day moving average of about $68,977, and buying to broaden beyond Ether.