Unchained · Friday, August 28, 2026
The price of Bitcoin has surged past $80,000, driven by a significant increase in ETF inflows and macroeconomic factors. Secretary Basset's actions to manage the long end of the bond curve are seen as stimulative to risk assets, reviving the "debasement trade" narrative. This rally has reignited interest in the broader crypto thesis.
“So, the big story of the week has been this big rebound. No. I think we're back in the headlines. People are excited. We're getting a lot more energy in the market all of a sudden.”
“And this has happened right as Bitcoin is just scraping against $80,000. It went over $80k yesterday and now it's kind of right around $79,500.”
“There's been a huge amount of short liquidations. Uh, over $2 billion in ETF inflows, which the ETFs have been very quiet up until very recently, all of a sudden now we're seeing inflows again.”
“And a lot of this has been accelerated by what's happening in the macro side. So, big story in macro has been Secretary Basset has started to try to pull in the long end of the curve, buying back long-dated bonds to issue short. And all of that has been very stimulative of risk assets.”