{
  "id": 2586798,
  "title": "How bitcoin and gold went from a slump to an MVP week in just a few days",
  "url": "https://urgent.news/2026/08/22/how-bitcoin-and-gold-went-from-a-slump-to-an-mvp-week-in-just-a-few",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-22T13:59:08.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/crypto/articles/bitcoin-gold-went-slump-mvp-135908904.html"
  },
  "original_language": "en",
  "account": "Bitcoin and gold surged to new heights within just a few days, driven by a combination of Treasury Department actions and political developments in Washington. Bitcoin had plummeted from a January peak of $95,000 to under $60,000 by the end of June, while gold had risen to over $5,300 in January but fell to around $4,000 in June as higher interest rates made interest-bearing investments more appealing.\n\nThe catalyst arrived on Wednesday when the U.S. Treasury Department announced plans to substantially increase its purchases of long-term government debt, aiming to stabilize bond markets following a prolonged sell-off. This intervention raised concerns about whether the government was attempting to lower borrowing costs amid inflationary pressures. Treasury Secretary Scott Bessent's move could potentially hinder the Federal Reserve's efforts to combat inflation by raising interest rates, and the national debt had already surpassed the $40 trillion mark on the same day.\n\nOn the same day, President Donald Trump, who made approximately $1.2 billion from crypto investments in 2021, urged Congress to swiftly pass crypto-friendly legislation. He called for a meeting with Commodity Futures Trading Commission Chair Mike Selig, who promised to use every available tool to advance the crypto agenda. The CFTC also proposed rules to simplify crypto companies' fundraising efforts.\n\nAs the Treasury's buybacks occurred, U.S. bond yields dropped, the dollar weakened, and Bitcoin broke through the $67,000 level. This sudden price surge led to the liquidation of more than $4 billion in bearish crypto positions, as investors closed their shorted positions, adding to the upward pressure on Bitcoin's price. The event demonstrated how political developments and Treasury actions can have a significant impact on alternative assets like Bitcoin and gold.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Winnipeg Free Press",
        "title": "How bitcoin and gold went from a slump to an MVP week in just a few days",
        "url": "https://urgent.news/2026/08/22/how-bitcoin-and-gold-went-from-a-slump-to-an-mvp-week-in-just-a-few-2587377",
        "published": "2026-08-22T13:59:27.000Z"
      },
      {
        "outlet": "Associated Press",
        "title": "How bitcoin and gold went from a slump to an MVP week in just a few days",
        "url": "https://urgent.news/2026/08/22/how-bitcoin-and-gold-went-from-a-slump-to-an-mvp-week-in-just-a-few-2591693",
        "published": "2026-08-22T14:23:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}