#BitcoinRises23.6%Weekly đš
đ„ Bitcoin just delivered one of its strongest weekly moves since February 2021, climbing from around $62K to nearly $79.5K before settling near the $77Kâ$78K zone.
đ Hereâs what traders should be watching next đ
đ° Why did Bitcoin pump?
âą đșđž Treasury catalyst: U.S. Treasury buybacks increased from $2B to $4B, helping push long-term yields lower. Lower yields can improve the appeal of risk assets like Bitcoin.
âą đŠ Institutional demand: Spot Bitcoin ETFs saw roughly $1.92B in weekly inflows, marking their strongest week in around 10 months.
âą đ„ Short squeeze: Approximately $2.7Bâ$3.5B in short positions were closed, adding extra fuel to the rally.
â ïž But donât chase the move blindly.
đ Bitcoinâs daily RSI has reached around 82.3, signaling an overheated market. BTC is also facing major resistance around $77Kâ$79.5K.
đ A weekly close above roughly $81.8K could strengthen the bullish breakout setup.
đ Key catalysts ahead:
âą Jackson Hole
âą Core PCE inflation
âą Nvidia earnings
âą Geopolitical & oil developments
đ„ The big question now:
Is this the beginning of Bitcoinâs next major leg higher, or will BTC pull back before continuing? đ
#BTC #Bitcoin #crypto #InvestingRevolution $BTC $ETH $SOL
đ„ Bitcoin just delivered one of its strongest weekly moves since February 2021, climbing from around $62K to nearly $79.5K before settling near the $77Kâ$78K zone.
đ Hereâs what traders should be watching next đ
đ° Why did Bitcoin pump?
âą đșđž Treasury catalyst: U.S. Treasury buybacks increased from $2B to $4B, helping push long-term yields lower. Lower yields can improve the appeal of risk assets like Bitcoin.
âą đŠ Institutional demand: Spot Bitcoin ETFs saw roughly $1.92B in weekly inflows, marking their strongest week in around 10 months.
âą đ„ Short squeeze: Approximately $2.7Bâ$3.5B in short positions were closed, adding extra fuel to the rally.
â ïž But donât chase the move blindly.
đ Bitcoinâs daily RSI has reached around 82.3, signaling an overheated market. BTC is also facing major resistance around $77Kâ$79.5K.
đ A weekly close above roughly $81.8K could strengthen the bullish breakout setup.
đ Key catalysts ahead:
âą Jackson Hole
âą Core PCE inflation
âą Nvidia earnings
âą Geopolitical & oil developments
đ„ The big question now:
Is this the beginning of Bitcoinâs next major leg higher, or will BTC pull back before continuing? đ
#BTC #Bitcoin #crypto #InvestingRevolution $BTC $ETH $SOL
