Key Facts
- Bitcoin closed the August 23 session at US$77,755, up 0.87% day-on-day after a week in which the US debt-policy push and forced short-covering drove a roughly 22% weekly advance.
- XRP was the strongest major at US$1.5222, up 3.99% on the session, while Ethereum and Solana each rose 1.63% to US$2,464 and US$95.44 respectively.
- A US$1.14 billion short-liquidation cascade accelerated the rally after President Trump urged passage of the CLARITY Act and Treasury buybacks eased long-term yields.
- Brazil’s crypto market remains a stablecoin story with stablecoins accounting for 98% of Q1 2026 crypto purchases on US$6.9 billion in quarterly volume.
- In Argentina, over 70% of Bitso purchases were USDT and USDC, and roughly 75% of crypto-paid workers chose stablecoin salaries as a dollar hedge.
- El Salvador’s digital-currency remittances reached US$35.4 million in H1 2026, up 39.1% year-on-year, though still only 0.7% of total remittance flows.
Today’s Focus
Bitcoin settled Sunday at US$77,755, a gain of 0.87%, as the market digested a week of Washington-driven momentum. The price is near US$78,000 after President Trump pressed industry leaders to pass a fair version of the CLARITY Act.
The rally was powered by a US$1.14 billion cascade of crypto short liquidations and renewed demand for US spot Bitcoin exchange-traded funds. Treasury buybacks that eased long-term bond yields also helped.
For Latin America, the week’s Bitcoin price move is secondary. Brazil, Argentina and El Salvador continue to show that stablecoins, not Bitcoin, are the region’s real crypto workhorse for dollar access, salaries and remittances.
What matters today. Latin America’s real crypto usage is still centred on stablecoins for dollar access, salaries and remittances, not on the Bitcoin price rally.
01 The session in one read
Bitcoin closed the Sunday, August 23 session at US$77,755, up 0.87% on the day, holding near US$78,000 after a week in which US debt policy and a crypto short squeeze pushed the largest digital asset roughly 22% higher.
The advance took fresh fuel from Washington, where President Donald Trump met industry executives and urged passage of the CLARITY Act. A US$1.14 billion cascade of crypto short liquidations then forced bearish traders to buy back positions, accelerating the move.
Major alternative coins followed Bitcoin higher. XRP jumped 3.99% to US$1.5222, outpacing Ethereum and Solana, which each rose 1.63% to US$2,464 and US$95.44 respectively.
The Bitcoin advance is a US macro and regulatory story: a debt-policy push, ETF demand and forced short-covering. Yet the structural Latin America story is unchanged, with Brazilian tax data showing roughly 90% of reported crypto turnover is stablecoin-denominated and Argentine workers choosing USDT and USDC salaries. Watch whether the CLARITY Act actually passes and whether stablecoin regulation in the US or EU alters dollar-token access for Latin American users.
02 The board
The Sunday board showed a market consolidating after a sharp rally rather than extending it at full force. Bitcoin’s 0.87% daily gain was modest compared with the week’s breakneck pace, suggesting traders were absorbing the move into the weekend close.
XRP’s 3.99% rise to US$1.5222 made it the session’s standout, a reminder that when Bitcoin stabilises, speculative capital tends to rotate into faster-moving tokens. Ethereum and Solana moved in lockstep at 1.63%, with Solana still digesting its first block-timing reduction since launch.
| Asset | Level | Change |
|---|---|---|
| Bitcoin | US$77,755 | +0.87% |
| Ethereum | US$2,464 | +1.63% |
| Solana | US$95.44 | +1.63% |
| XRP | US$1.5222 | +3.99% |
Source: RT close, 2026-08-23. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 171,031.73 | +1.85% | +21.85% | 167,927.15 | 168,310 | 167,142 | — |
| IPSA | 11,338.38 | +0.89% | — | 11,237.90 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 65,729.18 | +2.14% | +12.17% | 64,349.80 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,913,184 | +1.30% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,459.23 | +0.61% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 58,698.13 | +2.60% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
03 What moved it
The clearest driver was US debt policy. Treasury buyback announcements eased pressure on long-term bond yields, and Ray Dalio’s warning of a possible US debt crisis within three years gave Bitcoin a narrative as a hedge against fiscal stress.
Institutional buying also returned, with renewed inflows into US spot Bitcoin exchange-traded funds. Strategy, the Bitcoin treasury giant formerly known as MicroStrategy, swung from a US$13 billion unrealised loss to a US$1.4 billion profit as the price climbed above its average acquisition cost.
Regulatory momentum added fuel. The SEC abruptly advanced its first crypto fundraising rule, the CFTC warned it would write its own rules if the CLARITY Act stalled, and Washington’s tone turned decisively friendlier for crypto business.
04 The Latin American read
For foreign investors, the week’s Bitcoin rally is a US story. For Latin America, the real action remains in stablecoins, which dominate real-world crypto use across the region’s largest economies.
In Brazil, stablecoins accounted for 98% of crypto purchases in the first quarter of 2026, on US$6.9 billion in quarterly volume. The tax authority’s data tells the same story: roughly 90% of reported crypto turnover is stablecoin-denominated.
Argentina shows an even sharper dollarisation impulse. More than 70% of purchases on the Bitso exchange were USDT and USDC, and about 75% of workers paid in crypto chose stablecoin salaries.
El Salvador, the region’s Bitcoin pioneer, still sees limited Bitcoin use for remittances. Digital-currency remittances reached US$35.4 million in the first half of 2026, up 39.1% from US$25.4 million a year earlier, but that is still just 0.7% of total remittance flows.
05 The names to watch
Strategy matters most for Bitcoin price exposure because its treasury holdings amplify both gains and losses. The firm’s swing from a US$13 billion loss to a US$1.4 billion profit shows how quickly leveraged Bitcoin balance sheets reprice.
Solana is worth watching after its block-timing upgrade, the first since launch. Faster confirmation times could support payments use cases that matter in Latin America, where low-cost, high-speed rails compete directly with slow bank transfers.
On the regulatory side, the CLARITY Act in Washington is the variable that could define the next leg. If it passes, US institutions gain clearer rules; if it stalls, the CFTC has signalled it will write its own.
06 The outlook
The weekend close at US$77,755 leaves Bitcoin within striking distance of US$80,000, a level that would mark a powerful round-number break after a week of policy-fuelled gains. The key is whether ETF inflows persist or the short-covering fades into a leverage reset.
For Latin America, the more consequential question is stablecoin regulation. Brazil’s 98% stablecoin share and Argentina’s dollarised wages mean any US or EU rule change on dollar tokens would ripple through everyday commerce far more than the latest Bitcoin price print.
07 What to watch
- CLARITY Act passage: If the bill passes, US institutions gain clearer crypto rules; if it stalls, the CFTC has threatened to write its own, which could create two competing regulatory tracks.
- US spot Bitcoin ETF flows: Renewed ETF demand powered the rally; sustained inflows would support prices, while outflows would signal the short squeeze has run its course.
- Stablecoin regulation in US and EU: Any new rules on dollar-linked tokens would directly affect Brazil and Argentina, where stablecoins dominate purchases, salaries and dollar access.
- Solana block-timing upgrade: The first reduction in block timing since launch could improve payments use cases, a potential tailwind for low-cost remittance and merchant flows in Latin America.
Frequently Asked Questions
Why did Bitcoin rally in late August 2026?
A White House push for the CLARITY Act, Treasury buybacks that eased long-term yields, and a US$1.14 billion cascade of short liquidations combined to drive Bitcoin roughly 22% higher for the week.
How did the major cryptocurrencies perform on August 23?
Bitcoin closed up 0.87% at US$77,755, Ethereum rose 1.63% to US$2,464, Solana gained 1.63% to US$95.44, and XRP led with a 3.99% rise to US$1.5222.
Why do stablecoins matter more than Bitcoin in Latin America?
Stablecoins provide dollar access without a US bank account. In Brazil they are 98% of crypto purchases, and in Argentina over 70% of exchange purchases are USDT or USDC.
Is El Salvador actually using Bitcoin for remittances?
Digital-currency remittances hit US$35.4 million in H1 2026, up 39.1% year-on-year, but that remains only 0.7% of total remittances, so Bitcoin is still a small slice of money sent home.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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