On August 24, Bitcoin rose 23.5% last week, briefly surpassing $79,000, and is currently reported at approximately $77,600, reclaiming the 200-day moving average for the first time since November 2025. During the same period, Ethereum increased by 31.1% to $2,456, and XRP surged 53.3% to $1.52, bringing the total market capitalization of the crypto market to $2.63 trillion. Bitcoin and Ethereum spot ETFs attracted over $2.61 billion in inflows last week. The U.S. national debt exceeded $40 trillion last week, and the Treasury Department plans to at least double the scale of some long-term debt buybacks to $4 billion, which is believed to be related to the simultaneous rise of gold and crypto assets. Ray Dalio, founder of Bridgewater Associates, stated that if the U.S. does not change its current debt trajectory, it may face a debt crisis in about three years, advising investors to allocate about 15% to gold and 'a little Bitcoin.' In terms of regulation, President Trump again urged Congress to pass the CLARITY Act, stating that a 'fair version' of the bill should be enacted to maintain U.S. leadership in the crypto space over China. The bill is scheduled for procedural voting on September 15 and requires 60 votes for support. Meanwhile, the SEC has proposed new regulations for crypto assets, intending to allow eligible projects to issue tokens within certain limits and has introduced a safe harbor mechanism, which may open new funding avenues for U.S. crypto projects. CFTC Chairman Michael Selig indicated that if the CLARITY Act fails to pass the Senate, the CFTC will advance its own crypto regulatory rules, including allowing registered and unregistered entities to offer leveraged or margin crypto asset trading and exploring protective measures for developers. In the market, institutions like Nansen believe that the recent rise in Bitcoin was partly driven by short covering. Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated that the year-end target price of $100,000 for Bitcoin may be 'too low,' and if the market continues to recover, Bitcoin is expected to challenge its historical high of $126,000 again before the end of the year.