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benzinga.comAUG 202 min read$BTC-USD

Bitcoin Surges Above $71,000 as Raoul Pal Says It's The 'Bessent Put' and 'The Signal Is Enormous'

Bitcoin (BTC) rose 4% to $71,800. Raoul Pal noted the Treasury's bond buybacks as a significant signal. U.S. spot Bitcoin ETFs saw $517.19 million inflows, led by IBIT with $284.7 million. BTC cleared its 200-day EMA at $71,502, a key technical level.

Original reporting
benzinga.com
Published Aug 20, 2026, 11:27 AM UTC
Analysis
alphai AI DeskAI-generated
Added to alphai Aug 20, 2026, 4:23 PM UTC. Informational, not investment advice.
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Bitcoin Surges Above $71,000 as Raoul Pal Says It's The 'Bessent Put' and 'The Signal Is Enormous' — source image
Source · benzinga.com
Decision brief

The 30-second read

$BTC-USDBullishMed
01

Why it matters

The confluence of macro policy and crypto demand creates a short‑term bullish catalyst for Bitcoin and related ETFs.

02

Market read

Bitcoin’s price jump and unprecedented ETF inflows signal heightened market interest, potentially spilling over to broader risk assets.

03

What to watch

Potential regulatory scrutiny on crypto ETFs could dampen inflows.

Relevance 6/10Novelty 5/10Timing: Thursday pre‑market

Background

The article links a Treasury bond‑buyback program to a sharp Bitcoin rally and record ETF inflows.

Company-level read

Ticker impact

$BTC-USDBullishHigh confidence
Context

Bitcoin surged 4% to $71,800 on Thursday after macro investor Raoul Pal highlighted Treasury bond buybacks as a bullish signal.

Expected impact

Potential further upside if Treasury support continues.

Evidence & confidence

The move is driven by fresh macro commentary and record ETF inflows, indicating strong demand.

$IBITBullishMedium confidence
Context

BlackRock’s spot Bitcoin ETF (IBIT) recorded a $284.7 million inflow, the largest single‑day fund flow since May 4.

Expected impact

Likely modest price support for IBIT shares.

Evidence & confidence

Record inflows reflect heightened investor interest in Bitcoin exposure.

$ARKBBullishMedium confidence
Context

ARK & 21Shares’ ARKB ETF saw $77.7 million of inflows on the same day.

Expected impact

Potential short‑term price appreciation.

Evidence & confidence

ETF inflows are a direct indicator of demand for Bitcoin exposure.

$FBTCBullishMedium confidence
Context

Fidelity’s FBTC ETF attracted $62.4 million in inflows, contributing to a weekly total over $1 billion.

Expected impact

Likely modest upside for FBTC shares.

Evidence & confidence

Continued fund inflows reinforce bullish sentiment for Bitcoin‑linked products.

Market effects

Sector

Spot Bitcoin ETFs may see sustained inflows as macro signals favor risk‑on assets.

Regional

U.S. Treasury buybacks could lower long‑term yields, supporting broader equity markets.

Global

Joint U.S.–Japan yen intervention and Asian dollar swaps suggest coordinated liquidity easing worldwide.

Counterpoint

What could challenge this read

If Treasury actions are temporary, Bitcoin could retrace on profit‑taking.

Key entities

  • Analyst
    Raoul Pal

    Macro investor who highlighted the Treasury buyback impact.

  • Asset Manager
    BlackRock

    Issuer of the IBIT spot Bitcoin ETF.

Read at source← All news

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