The cryptocurrency market is experiencing one of its most significant rallies of 2026. Bitcoin (BTC) has finally hit $80K once again and is pulling the larger market along with it. CoinGecko data shows that BTC’s price has rallied by 4.2% in the last 24 hours and more than 25% in the weekly and 14-day charts. Let’s discuss what’s pushing BTC’s price and if the rally can sustain itself.
What’s Pushing Bitcoin’s Rally To $80K?
There are several factors behind Bitcoin’s (BTC) latest price surge. Firstly, President Trump held a cryptocurrency event at the White House last week, inviting the CEO and founders of several firms. The event further pushed the Trump administration’s pro-crypto stance. During the event, Trump stated that the US is planning to purchase a large amount of Bitcoin (BTC) and other cryptocurrencies. The statement may have elevated investor sentiment.
Another factor that may be pushing Bitcoin’s (BTC) price is the US Treasury’s plan to increase bond buy backs from $2 billion to at least $4 billion. The increased liquidity may have further pushed the cryptocurrency market.
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Bitcoin (BTC) ETFs (Exchange Traded Funds) have also seen increased inflows over the last few weeks. Farside Investors data shows that BlackRock’s IBIT Bitcoin (BTC) ETF has purchased more than $1 billion worth BTC since August 17, 2026.
Can The Rally Continue?
The cryptocurrency market is still quite volatile. The market saw substantial liquidation over the weekend, with $550 million being wiped out within 60 minutes on Saturday, August 22, 2026. While the current rally is commendable, it is unclear if the rally can sustain itself. Bitcoin (BTC) could face some resistance at the $80K price level.
Inflation in the US is also well above the Federal Reserve’s 2% target. Although inflation has been cooling, there is a chance that the US-Iran war could push CPI (Consumer Price Index) numbers higher if a peace deal is not finalized. Higher inflation could lead to an interest rate hike. Such a move could lead to Bitcoin (BTC) facing a price correction.