Bitcoin logs strongest weekly rally since March 2024 on ETF inflows and U.S. debt-management moves

Aug. 24 — A QCP report said Bitcoin (BTC) gained more than 20% last week, topping out around $79,500 on Friday to post its best weekly performance since March 2024. The move was sparked by large-scale short covering and later supported by stronger spot demand. U.S. spot BTC and ETH ETFs recorded combined net inflows of about $2.6 billion last week, the largest weekly total since October 2025. Bitcoin ETFs drew roughly $1.92 billion, while Ethereum ETFs saw about $697 million in net inflows, flipping from roughly $392 million of net outflows the prior week. On the macro side, the U.S. 30-year Treasury yield briefly neared 5.3%, the highest since 2007, as total federal debt surpassed $40 trillion. The U.S. Treasury then announced it will increase the size of its liquidity-support buybacks for 10–20-year and 20–30-year Treasuries from a maximum of $2 billion per operation to at least $4 billion per operation, effective from Sept. 9 through Nov. 4. After the announcement, long-dated Treasury yields fell and the dollar softened, while BTC and gold advanced. QCP noted the buybacks are debt-management operations rather than quantitative easing. This week, investors will watch U.S. PCE inflation data, Nvidia's earnings report, and remarks by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium.