Bitcoin (CRYPTO: BTC) has spent 2026 watching everything else rally. This week it produced its biggest gain in more than three years.
The world’s biggest cryptocurrency rose 23.47% over the five sessions through Friday, its strongest week since March 2023, climbing from roughly $62,800 Monday to above $77,000 by Friday morning.
Two catalysts came from Washington.
The Treasury said Wednesday it would at least double long-dated buyback operations to $4 billion apiece starting Sept. 9, pulling the 30-year yield off 5.337%, its highest since 2007.
Markets took the buyback as an admission that Washington can no longer tolerate borrowing costs at these levels.
Lower long yields loosen financial conditions and push money toward riskier assets, such as cryptocurrencies.
The same day President Donald Trump met crypto executives at the White House and urged the Senate to pass the CLARITY Act, the stalled bill defining whether digital assets are securities or commodities, now facing a procedural vote Sept. 15.
Roughly $2.7 billion in crypto short positions were liquidated as the move accelerated. Bitcoin still trades about 40% below its October 2025 record.
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