U.S. stocks rose Friday as a surging bitcoin and resilient crypto stocks helped lift sentiment.

Bitcoin is trading near $78,000 on August 21 after one of the most violent rallies of the year: up roughly 18% in 48 hours and 24% on the week.

Stock indexes ended winning streaks with weekly losses as bond yields stayed high. Bitcoin surged to $77K. Nvidia earnings and Jackson Hole next week.

Treasury Secretary Scott Bessent wanted to rescue the bond market but instead catalyzed a move higher for bitcoin. The intervention seemed to work better as a debasement signal than a bond trade. Long yields gave back half their drop within a day while bitcoin and gold moved higher.

If the stock market is up, bitcoin usually is too. But this year has been different.

Crypto markets extended their sharp rebound on Aug. 20, with the total market capitalization climbing more than 5% to about $2.5 trillion as Bitcoin (BTC), Ether (ETH), and XRP moved higher.

Tom Lee ranked 17 crypto stocks. Bitcoin miners barely track bitcoin, so check what your stock actually follows.

Bitcoin bounced and global stocks clawed back some of their recent losses on Friday as investors assessed the US Treasury's efforts to push down long-term borrowing costs.