Bitcoin Surges Past $75,000 for First Time Since May as Coinbase CEO Declares Bull Market Has Begun

Bitcoin climbed above $75,000 on August 21, its highest level since late May, capping a rally of nearly 20% in a single week that carried the cryptocurrency from a June 30 low of $58,856. Coinbase CEO Brian Armstrong declared the market may be on the cusp of a new bull cycle, citing the move past $72,000 as a key signal, with Bitcoin spot trading now accounting for roughly 12% of Coinbase revenue as the company broadens into other areas of crypto. Armstrong also credited the current U.S. regulatory environment under the Trump administration as a catalyst.

The rebound has direct consequences for corporate treasury holders: Strategy's position of 840,447 BTC, held at an average cost of approximately $75,385 per coin, moved back into profit as Bitcoin cleared that threshold. Bitcoin outperformed Ethereum and Solana during the advance, and market watchers noted that BTC has reclaimed key technical support levels that had defined prior bull phases.