Browsing: Rallies

Tech stocks are generally in the red this morning, but cryptocurrency stocks are deep in the green. The Invesco QQQ Trust (NASDAQ:QQQ) is down 0.7% to $710.90 in early Thursday trading, while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.5% to $765.32. Crypto-linked equities are running the opposite direction, and hard.

During the day on August 19, the price ofBitcoincame close to touching$70,000following a 5.4% rally that forced the massive closure of bearish operations on major derivatives platforms.

The broader cryptocurrency market is regaining strength, pointing toward a renewed bull run. The US Treasury Department announced on Wednesday that it will buy back more of its longer-term bonds, in an effort to curb a sharp increase in borrowing costs. 

Bitcoin broke out of a months-long trading range, rising as much as 7.7% amid growing optimism over cryptocurrency regulation as industry leaders gathered at the White House.

ELLIS HOBBS•UPDATED AUG. 17, 2026, 4:47 PM ET Reviewed by Jack Kelloggand Fact-checked by Tim Sykes