Analyst: Bitcoin increased to $79,000, continuing strong rebound

Coimpaper reported that after a two-day strong rebound, Bitcoin rose to $79,000 on Friday, continuing the strong recovery in August. According to market reports, BTC increased by more than 5 per cent on Thursday and by about 7 per cent on Wednesday. This volatility has increased the bitcoin from $65,000 earlier this week to as high as $79,000, marking one of the strongest short-term rebounds since 2026. The rebound also caused Bitcoin to break through the US$ 69,000 to US$ 70,000 zone previously considered a resistance position. The United States Department of the Treasury unexpectedly announced that it would double at least the scale of the buy-back of the national debt due, making it the main catalyst for the rebound. The implementation of this measure is expected to begin in September, with the single operating amount increasing from $2 billion to at least $4 billion. This has somewhat eased the pressure on long-term public debt to sell and contributed to the rise in assets such as bitcoin and gold。