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Bitcoin

Bitcoin Surges as Risk Appetite and ETF Inflows Improve

Bitcoin surged 6% to around $77,370 on Friday, extending gains to over 20% this week, its strongest weekly gain in more than three years, boosted by a broader improvement in risk appetite. The US Treasury announced plans to at least double its purchases of longer-dated government bonds, pushing long-term yields lower and the dollar weaker. The move also triggered a major short squeeze, with billions of dollars in bearish crypto positions liquidated over recent days. Investor sentiment was further supported by President Donald Trump’s meeting with cryptocurrency industry leaders and his call for progress on a new crypto market-structure bill. US spot Bitcoin ETFs have also attracted more than $1 billion in weekly inflows, adding to demand. Despite the sharp rebound, Bitcoin remains well below its record high above $126,000 reached last October.

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