Bitcoin gained 23.2% over seven days, breaking above $77,000 as gold climbed to $4,661 and the dollar weakened, in a move analysts describe as a debasement trade. The U.S. Treasury announced it would at least double purchases of longer-term government debt, fueling concerns about fiscal credibility. More than $4 billion in short positions were liquidated during the rally, according to CoinGlass data. Analysts remain cautious: while this configuration is consistent with a vote against the dollar, it could also reflect short-term tactical positioning rather than a lasting structural shift. Bitcoin’s identity as a macro hedge continues to solidify as institutional access expands.
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