Bitcoin Nears $80,000, Posts Biggest Weekly Rally In Three Years As Crypto Market Gains Momentum
New Delhi: Bitcoin surged toward the $80,000 mark on Saturday, on track for its strongest weekly gain in more than three years amid optimism of traders related to a spike in bond yields. The cryptocurrency jumped as much as 4.8 per cent over 24 hours and was trading around $78,588 as of 9:10 am. Bitcoin (BTC) gained 0.6 per cent in the past hour and 24.5 per cent across the past week, marking a…
Bitcoin edged closer to the $80,000 milestone on Saturday, poised for its largest weekly surge in over three years as traders grew optimistic over a potential boost in U.S. bond yields. The digital asset surged by as much as 4.8% within a single day, currently hovering around $78,588. Bitcoin's value increased by 0.6% in the last hour and a whopping 24.5% over the past week, marking a strong weekly rally.
This rally is noteworthy as it was not witnessed by the cryptocurrency since March 2023. The last time Bitcoin traded near the $80,000 mark was in May 2026. Bitcoin ETFs experienced a considerable outflow of $390 million in a single week due to shifting investor sentiment. Analysts have attributed the rally to the U.S. Treasury's decision to double long-dated bond buybacks, which lowered long yields and bolstered risk appetite across markets.
This move prompted the liquidation of billions of short positions, further propelling the price of Bitcoin. The announcement made by the U.S. President, Donald Trump, during his meeting with executives from major crypto firms like Coinbase Global and Payward, was also viewed as a positive sign, reflecting the administration's favorable outlook towards cryptocurrency.
Institutional buyers have started to return to the market this week, with 13 U.S.-listed spot Bitcoin ETFs collectively seeing inflows of more than $1 billion, further fueling the bullish mood in the crypto market. Despite trading close to its peak near $126,000 in October 2025, Bitcoin has yet to recover from the major sell-off that bottomed out at $58,642 in late June 2026.
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