Bitcoin (CRYPTO: BTC) has spent 2026 watching everything else rally. This week it produced its biggest gain in more than three years.

The world’s biggest cryptocurrency rose 23.47% over the five sessions through Friday, its strongest week since March 2023, climbing from roughly $62,800 Monday to above $77,000 by Friday morning.

Two catalysts came from Washington.

The Treasury said Wednesday it would at least double long-dated buyback operations to $4 billion apiece starting Sept. 9, pulling the 30-year yield off 5.337%, its highest since 2007.

Markets took the buyback as an admission that Washington can no longer tolerate borrowing costs at these levels.

Lower long yields loosen financial conditions and push money toward riskier assets,…