Bitcoin is heading for its third straight winning week, with traders seeking refuge in the digital asset as equities, currencies, and bond markets swing wildly, according to CNBC.
The token is up 4.6% week to date, having hit an overnight high of $82,272.31—its strongest level since May 11, when it peaked at $82,499.99. It last changed hands at $81,151.10.
For much of 2026, bitcoin traded in a narrow band between roughly $60,000 and $70,000. But the asset broke above $70,000 in late August and has kept climbing as the so-called debasement trade regains momentum, a strategy where investors shift out of dollars into assets like crypto or gold.
Macro backdrop fuels the rally
“The price breakout came towards the [end of August] with the re-emergence of the debasement trade re-igniting investor interest in BTC – the U.S. Treasury announced it would increase purchases of longer-dated Treasuries, long yields fell, the dollar weakened, and BTC and gold moved higher,” Dominika Nestarcova, Goldman Sachs executive director of digital assets, said in a note Thursday.
The move comes as traders navigate a turbulent macro environment, with volatility hitting traditional markets and prompting a search for alternative stores of value.
Altcoins follow bitcoin higher
Other cryptocurrencies are also joining the rally. Ether reached a high of $2,545.62 on Friday, its most elevated level since August 27. Solana jumped to as much as about $105.70, marking its highest price since August 31.
The broad-based advance suggests the renewed interest in digital assets is not confined to bitcoin alone, as investors increasingly look to crypto as a hedge against currency depreciation and fiscal concerns.
Source: www.cnbc.com — https://www.cnbc.com/2026/09/04/bitcoin-heads-for-third-winning-week-in-a-row-as-macro-pressures-mount.html
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