Bitcoin Holds Above $77,500 After Its Strongest Month of 2026

Bitcoin traded above $77,500 on Thursday, with every major token higher over the previous 24 hours and XRP leading the recovery, CoinDesk reported. Only zcash and hyperliquid held gains over the full week, an indication that the rebound was narrow. Ether remained near $2,417 and XRP near $1.32 after a 72 percent August advance from about $1.00 to $1.70 stalled on profit taking.

Bitcoin gained roughly 24 percent in August and briefly traded above $80,000. What happened next matters more. When Kevin Warsh, the chair of the Federal Reserve, delivered hawkish remarks at Jackson Hole and traders raised the odds of a September rate increase, bitcoin fell below $78,000 intraday, and ether, solana and XRP fell with it. Gold fell on the same news, and equities declined too. The asset behaved as a liquidity-sensitive risk position, not as an alternative to the monetary system it was designed to sit outside.

The link to bonds is now close enough that Asian equity strategists watch the same variable. The ten-year Treasury yield easing slightly on Wednesday was the reason Indian indices opened higher on Thursday, and it is the same reason crypto majors traded higher. When the discount rate moves, long-duration assets across markets move together.

The Austrian case for a fixed-supply monetary asset rests on the argument that credit expansion erodes the purchasing power of state money over long periods. That argument concerns years. The marginal buyer of bitcoin today is trading a two-week policy meeting. Both things can hold at once, and the practical consequence is that holders who bought bitcoin as insurance against monetary disorder are instead getting the price behaviour of a technology stock.