20/08/2026
Bitcoin briefly crossed the $70K mark on Wednesday, its first time back at this level since June 2.
BTC also jumped more than 7% in the last 24 hours.
So, what’s behind the move?
1. U.S. crypto legislation is gaining attention, with fresh calls for Congress to advance the Digital Asset Market Clarity Act.
2. Treasury market liquidity is improving after the U.S. Treasury increased the size of its bond buyback operations.
3. Bitcoin also broke above a technical level traders had been watching, adding momentum to the rally.
But there’s still a major factor to watch: the U.S. Federal Reserve.
Fed officials continue to see inflation risks, which could keep interest-rate expectations in focus.