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Cabinet Approves Bill For A Patient Advocate 

The Council of Ministers has approved a bill to institute a Patient Advocate, with the President of the Republic of Cyprus, Nikos Christodoulides, underlining, during the Cabinet meeting, the importance of the health sector as a key priority for the government.

President Christodoulides on 29 August explained that the independent institution of the Patient Advocate will have the authority to examine complaints and claims concerning patients’ rights, not only within the General Healthcare System (GHS) but also outside of it. It will also, he continued, be responsible, among many other things, for providing information and preparing relevant recommendations.

He also noted that the decision also establishes an Advisory Committee, whose mission will be to support the work and actions of the Patient Advocate, while at the same time the role and responsibilities of the Committees for the Examination of Patient Complaints will be strengthened.

Health Minister, Michael Damianos, speaking after the Cabinet meeting said that “with this bill, the Ministry of Health is taking a decisive step towards ensuring the rights of patients, both within and outside the GHS.”

He added that the innovations promoted through the proposed bill are crucial for strengthening patients’ rights and improving the quality of health services in the country.

Damianos urged the House of Representatives to proceed with its vote for the implementation of this important initiative that will have a direct positive impact on society.

The Minister of Health also announced a decree, as of 29 August, to repeal all measures relating to COVID 19 which remained in force, including the use of masks in hospitals and nursing homes.

Bitcoin Surges 23% In A Week As Investor Optimism Returns

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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