Bitcoin surged more than 23% this week to reach $77,412, touching a high of $79,319 on Friday. Cosmo Jiang, portfolio manager at Pantera Capital, said resistance levels stand around $80,000 and that smart money is flooding into the space. President Donald Trump met with crypto executives this week, urging Congress to pass the Clarity Act, with a vote scheduled for September. U.S. Treasury Secretary Scott Bessent announced a doubling of long-dated bond buybacks, boosting non-yielding assets like bitcoin and gold. Jiang highlighted several supportive factors including stablecoin adoption, prediction markets, and the crossover of AI and crypto.
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