Bitcoin and Ethereum Jump as US Treasury Boosts Debt Buybacks

Crypto markets rallied sharply on the evening of Wednesday, August 19, 2026 (28 Mordad 1405). According to Arzdigital, Bitcoin jumped nearly 7 percent over a few hours, nearing the $70,000 level. Data from prediction platform Polymarket showed the probability of Bitcoin reaching $70,000 by the end of August rising to 72 percent, a 43 point jump, after holding below 20 percent for weeks. Separately, Cointelegraph reported Bitcoin hit an 11 week high of about $68,500, attributing the rally to the US Treasury doubling the size of its long-end debt buybacks and improving market liquidity.

According to Arzdigital, Ethereum jumped 8.72 percent within an hour to break above the $2,000 resistance level, reaching about $2,101. Its market capitalization rose to roughly $251 billion, keeping its position as the second largest cryptocurrency.