Bitcoin surges past $77,000 in best weekly rally since 2023
Bitcoin has surged more than 20 percent over the past week to above $77,000, its strongest weekly rally in over three years, driven by a US Treasury bond buyback announcement and renewed ETF inflows.
By Rishwan Share
Bitcoin has rallied sharply over the past week, climbing from the $62,000 to $66,000 range to above $77,000, marking a weekly gain of roughly 22 to 23 percent and its best weekly performance in more than three years.
The world's largest cryptocurrency touched a peak of around $79,500 on Friday before pulling back slightly, with prices hovering near $77,500 as of Saturday.
According to market analysts, the rally gathered pace after the US Treasury announced plans to increase its purchases of longer-dated government bonds. The move was viewed by investors as supportive for risk assets more broadly, with Bitcoin among the biggest beneficiaries.