Bitcoin extends 7-day advance to roughly 25%
Bitcoin has extended its weekly gains to 25% amid broader crypto market activity and U.S. Treasury bond buyback plans. While Bitcoin faces resistance at $81,000, other assets like Polygon and Injective have seen significant gains, though some tokens like Aave have declined.
Why it matters
The report provides a snapshot of current crypto market sentiment and the impact of macroeconomic policy on digital asset valuations.
The crypto rally started last week after the U.S. Treasury said it would at least double the size of buybacks of long-dated bonds, and accelerated as spot crypto buying and deepening liquidity pointed to “meaningful capital deployment,” according to Glassnode .
Still, analysts at Bitfinex struck a cautious tone , noting that roughly $3 billion in crypto short positions were liquidated in two days while bitcoin network transactions remained near eight-year lows.
Gold, meanwhile, kept climbing. It’s now at a three-month high of $4,650 an ounce, while Brent crude shed more than 2% in the past 24 hours as markets appear to dismiss the U.S.’ widening crackdown on Iran through its “economic D-Day.”
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