Bitcoin Surges to $79,400 in Best Week Since 2023 as Short Sellers Get Squeezed

Bitcoin hit $79,400 on August 21, 2026, up 8.8% in a day and 24% on the week — its strongest week since 2023, per CoinDesk. Short sellers (traders betting on a price drop) were forced to buy back in as resistance broke, fueling the rally. The catalyst reportedly traces to the U.S. Treasury, though details remain unclear.