$BTC Holds Above $77,000 After Historic Weekly Rally Fueled by Short Squeeze
Bitcoin is consolidating above $77,000 after a monumental weekly rally of over 22% that saw the cryptocurrency briefly touch $79,000 before a weekend pullback to around $75,800 . The rally was triggered by a combination of factors including a massive short squeeze that liquidated billions in bearish bets, the U.S. Treasury's bond buyback announcement that weakened the dollar, and renewed institutional demand . U.S. spot Bitcoin ETFs recorded approximately $1.9 billion in net inflows last week, marking the strongest weekly inflow since October 2025 . The Coinbase Bitcoin Premium Index turned positive for the first time since May 19, ending a record 97-day negative streak and signaling a recovery in U.S. spot demand . However, approximately 53,000 BTC flowed into exchanges over the past three days, primarily from short-term holders taking profits, suggesting that some selling pressure is emerging at these elevated levels . Analysts at Standard Chartered noted that this rally could become self-reinforcing, with a risk that their $100,000 year-end forecast may prove conservative .
Bitcoin is consolidating above $77,000 after a monumental weekly rally of over 22% that saw the cryptocurrency briefly touch $79,000 before a weekend pullback to around $75,800 . The rally was triggered by a combination of factors including a massive short squeeze that liquidated billions in bearish bets, the U.S. Treasury's bond buyback announcement that weakened the dollar, and renewed institutional demand . U.S. spot Bitcoin ETFs recorded approximately $1.9 billion in net inflows last week, marking the strongest weekly inflow since October 2025 . The Coinbase Bitcoin Premium Index turned positive for the first time since May 19, ending a record 97-day negative streak and signaling a recovery in U.S. spot demand . However, approximately 53,000 BTC flowed into exchanges over the past three days, primarily from short-term holders taking profits, suggesting that some selling pressure is emerging at these elevated levels . Analysts at Standard Chartered noted that this rally could become self-reinforcing, with a risk that their $100,000 year-end forecast may prove conservative .
