The crypto market capitalization settled at $2.73 trillion Saturday after a volatile week that began near $2.74 trillion, dipped below $2.7 trillion on Aug. 23, and peaked at $2.79 trillion Friday—a stark contrast to the prior week's $500 billion surge.
Bitcoin displayed sharp price swings throughout the period. Momentum from the U.S. Treasury bond buyback announcement pushed the asset briefly above $81,000 on Tuesday, Aug. 25. It then consolidated between $77,000 and $79,000 for two days before surging to reclaim $81,000 on Thursday. Federal Reserve Chair Kevin Warsh's Jackson Hole address triggered a sell-off that drove Bitcoin below $77,000, but the asset recovered to $78,000 by Saturday for a modest 1 percent weekly gain. Bitcoin is tracking for August gains exceeding 20 percent.
Bitcoin's parallel movement with gold has sparked discussion about institutional capital rotating into scarce assets as a hedge against currency debasement. Himanshu Sahay, co-founder and CTO of Arch Lending, said a broader reassessment of scarce assets is occurring, with Bitcoin increasingly occupying a role traditionally held by gold for investors willing to accept higher volatility. "Bitcoin is increasingly traded within a broader macro framework," Sahay said.
Altcoin performance diverged sharply. Solana led gainers after Charles Schwab announced plans to add support for SOL alongside Avalanche (AVAX) and Chainlink (LINK) to its accounts. Monero (XMR) also posted strong gains, climbing from $425 to $463 over the week. XRP declined most sharply among major altcoins, while Dogecoin fell 7.2 percent and Tron (TRX) slipped nearly 3 percent to almost 34 cents.
