Bitcoin has inched close to $80k and cryptocurrencies are trading firmly in the green amidst a mixed global market scenario.
Sentiment in global markets remains dampened by the deteriorating macroeconomic as well as geopolitical scenario. The looming U.S. sanctions against Iran, the potential spike in crude oil prices as well as the likely impact on inflation weighed heavily on market sentiment.
The euphoria in crypto markets triggered by the liquidity boost announced by the U.S. Treasury continues unabated early on Friday.
Unresolved tensions between the U.S. and Iran kept sentiment in global markets cautious and crude oil prices volatile. Markets continued to speculate on the impact of the recent doubling of bond buyback by the U.S. Treasury. Concerns about inflation, the fiscal deficit as well as corporate bond issuances lingered.
An emphatic rally engulfed crypto markets amidst a confluence of multiple positive catalysts that converged on an otherwise tepid market environment. Crypto markets cheered the liquidity boost announced by the U.S. Treasury Dept, the massive inflows to U.S.-listed Bitcoin Spot ETF products as well as a renewed crypto push by the White House that renewed hopes of a passage of the Clarity Act.
Global markets digested the announcements from U.S. Treasury about doubling long-term bond buyback operations.
Bitcoin is holding on to overnight gains of close to a percent even as sentiment in crypto markets remains mixed amidst a surge in bond yields and a spike in crude oil prices globally.
Global markets reflected anxiety at the spike in bond yields attributed to renewed concerns about inflation as well as government spending. Fresh tensions between the U.S. and Iran, dimming prospects of peace in the Middle East as well as the continuing disruption in the Strait of Hormuz also weighed on the mood in markets.
Crypto market capitalization has increased mildly during the past 24 hours even as global markets worried about the geopolitical situation in the Middle East.
With the Fed's next monetary policy decision just 30 days away, global markets have toned down expectations of a rate hike, boosting market sentiment.
August 21, 2026 14:42 ET The minutes of the latest policy meeting of the Federal Reserve, housing market data and manufacturing sector survey results were the main news for the U.S. economy this week. In Europe, inflation data from the U.K. was the highlight, while consumer price data from Japan drew attention in Asia.