DWF Labs said Bitcoin posted its strongest weekly gain since March 2023, rising 23.6% to $77.7K, while ETH gained 31.3% to $2.46K. The firm pointed to several catalysts, including the U.S. Treasury’s decision to double long-end bond buybacks to at least $4 billion per operation, the SEC’s Regulation Crypto proposal, and $2.6 billion in combined BTC and ETH ETF inflows. Crypto volatility also rebounded sharply, with August 19 seeing about $2.99 billion in liquidations, mostly shorts, while aggregate futures open interest rose 16.5% to $137.5 billion. DWF Labs argued that the move was driven more by short covering and spot demand than by a buildup in leveraged longs.
