Digital assets’ big summer rally deconstructed in charts

One of the largest crypto market rallies took place from 18 to 23 August 2026, with Bitcoin rising by around 22 percent and Ethereum by around 30 percent.

The move coincided with a US Treasury announcement on long-dated bond buybacks. On the same day, US public debt passed USD 40 trillion.

Our report breaks down the big rally through a series of charts, covering:

  • what happened
  • how extreme it was
  • what carried it
  • and how flows responded
  • the large options market reset
  • where the price sits now

This report is available to qualified investors. Please find further insights and news from our team here.

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