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How bitcoin and gold went from a slump to an MVP week in just a few days

By DRG Media Group News Aug 22, 2026 | 4:00 PM

UNDATED-AP- Bitcoin and gold shot higher this week, with both getting a boost from some frantic action surrounding the bond market, and the cryptocurrency also benefiting from activity in Washington. Both bitcoin and gold had fallen sharply from their highs set in January. They each got a jolt Wednesday (Aug. 19, 2026) when the Treasury Department announced plans to significantly increase bond purchases to push down interest rates. Bitcoin got more help from President Donald Trump, who urged Congress to move quickly on crypto legislation. A dollar sell-off also help gold and bitcoin as investors moved toward alternative assets.

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