shorts

Published on
21/08/2026 – 12:42 GMT+2

The world’s largest cryptocurrency touched an intraday high of $79,500 on Friday, its best level in months, before easing to around $77,700 at the time of writing, leaving it up more than 25% since Monday.

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The rally caps one of Bitcoin’s most dramatic weeks in years, following a stretch in which the token had lagged well behind its 2025 highs for much of 2026.

For six straight weeks, Bitcoin had been stuck grinding between $62,000 and $66,000, having fallen over 50% from the all-time high of around $126,000 it reached last year in October, to the low of roughly $57,600 it hit early in July of this year.

That prolonged malaise had encouraged traders to build up bearish positions over the course of the year, betting the token’s underperformance would continue. When the price broke higher this week, those bets unwound violently leading to an episode of forced short covering.

Ether, the second-largest cryptocurrency, and other digital assets have also surged on the same wave of positioning and momentum was reinforced by signals of extra liquidity from Washington.

The US Treasury doubled the size of its bond buybacks earlier in the week to calm a jittery bond market, and when yields climbed back regardless, US Treasury Secretary Scott Bessent vowed on Thursday to increase the buybacks even further.

Easier financial conditions and a softer dollar tend to favour riskier assets such as Bitcoin.

Regulatory developments also added further fuel. On Tuesday, the US Securities and Exchange Commission filed a proposal called “Regulation Crypto Assets”, offering crypto issuers lighter registration requirements.

A day later, US President Donald Trump hosted Coinbase’s Brian Armstrong, Ripple’s Brad Garlinghouse, Gemini’s Winklevoss twins and other industry leaders at the White House, pushing Congress to pass the long-delayed Digital Asset Market CLARITY Act.

The bill, which would split oversight of digital assets between the SEC and the US Commodity Futures Trading Commission, cleared the House last year but remains stalled in the Senate, needing 60 votes to clear a procedural hurdle on 15 September that it is not yet assured of overcoming.

Trump’s Hyperliquid remarks send HYPE surging

Among the most striking moments of Wednesday’s summit came when US President Donald Trump said the Commodity Futures Trading Commission was working to bring Hyperliquid, a decentralised derivatives exchange, onshore “in a fully compliant legal fashion”, though the regulator has yet to publish any timeline for doing so.

The comment sent HYPE, Hyperliquid’s native token, surging 25% within 24 hours.

As it stands, HYPE is trading at around $74, up more than 30% since Trump’s remarks.

The decentralized exchange, popular with perpetual futures traders, has become something of a proxy for how far Washington’s warmer stance on crypto could extend.

MOLLY-MAE Hague and Tommy Fury will reveal the name of their baby son this weekend, The Sun can exclusively reveal.

Boxer Tommy’s shorts will be adorned with the newborn’s name when he fights man mountain Eddie Hall in a pay-per-view event on Saturday.

A source said: “The little man’s name will be on Tommy’s shorts at his fight along with Bambi’s.

“That’s how they are going to announce it to the world.

“The shorts will be two-toned colour.

“It was Tommy’s idea and Molly was very open to it.”

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The insider continued: “Now the little fella is here it’s a no-brainer — what better way to announce his name than on his dad’s boxing shorts.

“Molly is now obsessed with it — she’s hoping to be there.

“They’re working out the walk outs at the minute because that’s when it will be revealed, with music and blue fireworks — it will be cool.

“It should be a really nice moment for them.”

Earlier today, Molly-Mae gave fans a glimpse inside her gender reveal party by sharing unseen footage.

The 26-year-old welcomed her baby son last week but chose to keep the gender private for the entirety of her pregnancy.

Molly-Mae gave birth at celeb-loved private spot The Portland Hospital, the same place Bambi was welcomed back in 2023 and the hospital which has seen A-listers such as Meghan Markle and Victoria Beckham give birth.

The new mum, Tommy and their daughter Bambi, three, found out the gender of the little one by popping a balloon, which exploded with blue confetti.

The couple met on Love Island in 2019 and are the show’s most famous couple.

They weathered a temporary split in 2024 as Tommy battled alcohol issues, but they are now stronger than ever.