Grab a moment, here’s your weekly crypto catch-up
24 August 2026: NEWS DIGEST
Bitcoin Moves From $63K to Above $77K During a Sharp Weekly Rally
Starting with market activity, Bitcoin’s rally continued this week, moving from around $62,800 to above $77,000. Market coverage cited the U.S. Treasury’s decision to double debt buybacks and President Trump’s call for Congress to pass the CLARITY Act as key developments being watched during the move. CryptoSlate also reported that more than $1 billion in short positions were liquidated during the rally. This is a general market movement update only, not investment advice or a trading signal.
Ethereum Moves Above $2,500 as U.S. Spot ETF Inflows Increase
Alongside Bitcoin’s move, Ethereum moved above $2,500 as U.S. spot Ethereum ETFs recorded around $697 million in weekly net inflows, according to CoinTurk News. It also reported that the move followed a wave of short liquidations totaling $1.69 billion over three days. These figures highlight recent market activity only and should not be read as an investment outlook, price prediction, or trading signal.
Crypto Card Spending Passes $1B as Stablecoins Power Payment Activity
Behind the scenes of the broader market rally, crypto card spending also reached a new milestone. According to Paymentscan data highlighted by a16z and recent market coverage, tracked crypto card spending topped $1 billion in July, with USDC and USDT powering more than 70% of transactions. The data points to growing payment-linked stablecoin activity, while users should still consider product, issuer, custody, conversion, and regulatory risks.
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