Bitcoin surged sharply and gained 18% in two days
Bitcoin’s price surged sharply and briefly approached the $77,000 mark. In just two days, the leading cryptocurrency gained about 18%, and the total market capitalization of the crypto market rose by approximately $400 billion over five days.
On August 21, Bitcoin briefly rose to approximately $77,000. Over two days, its price increased by roughly $12,000, or about 18%. The latest surge was particularly rapid. In about 20 minutes, the BTC price rose to $76,000, after which the cryptocurrency continued its upward trend. According to market quotes, Bitcoin was trading near $77,000, and its total market capitalization stood at about $1.5 trillion.
In two days, Bitcoin’s market capitalization increased by more than $220 billion. This indicates that, amid rising prices, significant funds have returned to the digital asset. As recently as August 18, the situation looked quite different. At that time, Bitcoin was trading at around $63,500. Analysts at VanEck noted signs of capitulation among some investors and increased market volatility. After that, sentiment shifted dramatically.
The crypto market gained about $400 billion
The growth was not limited to Bitcoin alone. Over the past five days, the total market capitalization of the crypto market has increased by approximately $400 billion. This represents nearly 20% of its value from five days earlier. Such a surge demonstrates how quickly money can flow back into digital assets after a period of decline. Positive signals from the U.S. were one of the factors supporting this recovery.
The day before, U.S. President Donald Trump called on Congress to pass the Clarity Act. The bill aims to clarify the rules governing digital assets and distribute authority among U.S. regulators. Against this backdrop, Bitcoin rose above $70,000 for the first time since June. Along with it, shares of companies tied to the crypto market also began to rise.
Another contributing factor was the U.S. Treasury Department’s move to increase purchases of long-term government bonds. A decline in their yields could create more favorable conditions for risky assets. These include, in particular, cryptocurrencies.
Will Bitcoin Continue to Rise?
Despite the strong surge, the current rally does not mean that Bitcoin is guaranteed to continue moving only upward. The crypto market remains highly volatile. After a sharp price increase, investors may begin to take profits, which could trigger a correction.
Therefore, the move from $63,500 to approximately $77,000 over a few days should not be taken as a guarantee of further growth. Sharp price fluctuations are a common occurrence for Bitcoin. As of the morning of August 21, prices on various trading platforms varied slightly, but Bitcoin remained near $77,000, according to Investong.com.
The Bank of Russia has included Bitcoin, Ethereum, and Tether (USDT) in the list of cryptocurrencies that may be admitted to public trading on Russian exchanges.
