U.S. Stocks Rise Supported by a 7% Bitcoin Surge and Gold Hitting Record Levels

Major U.S. indices rose at the open of Friday's session, August 21, 2026, driven by mounting gains in cryptocurrencies and basic materials that helped lift general market sentiment.

Bitcoin jumped 7.36%, surging past $77,000 for the first time in weeks, while XRP rose 13.84% to reach $1.40. Gold climbed 1.67% to $4,647 per ounce, and shares of companies such as Coinbase, Robinhood, and MicroStrategy advanced accordingly alongside the crypto wave.

On the index front, the Dow Jones gained 379 points, or 0.72%, to reach 53,138 points, and the S&P 500 rose 0.33% to 7,666 points, while the market volatility index (VIX) fell 3.56% to 15.44, signaling easing investor concerns. The basic materials sector led sectoral gains during the session.

Despite this rise, indices recorded weekly losses due to bond market turmoil that dominated trading throughout the week. Analysts note that supportive U.S. legislation for digital currencies is fueling the current buying wave in both crypto stocks and cryptocurrencies alike.

What do these terms mean?

VIX (Volatility Index): An index measuring traders' expectations of U.S. stock market volatility over the next 30 days. The lower it is, the more stable markets are in the eyes of investors.

Basic Materials: A sector comprising metals extraction, mining, and chemical production companies, whose performance is closely tied to commodity prices such as gold and copper.

Bond Market: The market where government and corporate bonds are issued and traded. Its fluctuations impact borrowing costs and general financial market trends.