Bitcoin has surged 22% over the past week, climbing from a weekly low of $63,387 to approximately $77,800, with analysts identifying the $80,000 level as a critical resistance point in what appears to be the late stage of a bearish cycle. This rally was triggered by multiple concurrent catalysts: the U.S. Treasury Secretary’s announcement of doubled long-term bond buybacks, a meeting between President Trump and crypto industry executives, and a significant resurgence of buying activity in spot Bitcoin ETFs. The Jackson Hole symposium beginning Thursday will serve as the next major test for the cryptocurrency, featuring the first keynote address from newly appointed Fed Chair Kevin Warsh on Friday.
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