Bitcoin Jumps Above $69,000 After US Treasury Doubles Bond Buybacks

The global cryptocurrency market rallied on Thursday, August 20, 2026 (29 Mordad 1405), with Bitcoin returning for the first time since early June to a level it had lost. According to Khabar Online, citing ISNA, Bitcoin rose about 8.06 percent in 24 hours to 69,327 dollars. The jump came immediately after the US Treasury said it would at least double the size of its long term government bond buybacks, a move the market read as a form of indirect quantitative easing that weakens the dollar.

Per the report, short sellers were forced to buy to cover roughly 1.5 billion dollars of short positions, with about 700 million dollars of Bitcoin bought in a single minute. Ethereum rose about 17.5 percent over the past 24 hours, while Ripple and Solana each gained more than 10 percent, and Tether held near one dollar.