Bitcoin recorded its best week since 2023, with a 23% gain over seven days, crossing above $77,542 to reach a high of $79,319. Bitcoin exchange-traded funds attracted over $1.6 billion this week, including $606.3 million on Thursday alone, one of the biggest trading days of the year. Short positions were liquidated to the tune of over $1 billion, with Thursday marking the largest Bitcoin shorts liquidation ever at $1.1 billion, according to Standard Chartered. The dollar fell to a three-month low as Treasury yields declined following the announcement to double long-dated bond buybacks. President Trump met with crypto executives this week and urged Congress to pass the Clarity Act, with a vote on the long-awaited crypto legislation scheduled for September.
Source: Read the original article
