top technical analyst Benjamin Cowen said Bitcoin’s recent breakout began shortly after Treasury Secretary Scott Bessent announced plans to double Treasury bond buybacks from $2 billion to $4 billion per operation.
Bitcoin Rally Is Outrunning the Rest of the Market: Here’s Why
Bitcoin is trading near $79,000, up roughly 24% over the past week and on pace for its best run since 2023. Altcoins, the rest of the crypto market after Bitcoin, are supposed to be the more volatile side of the trade, swinging harder than Bitcoin in both directions. This week, that didn't happen—the broader market grew, just not enough to catch up. That pattern shows up most clearly in a metric called Bitcoin dominance—Bitcoin's share of the entire crypto market. If altcoins were truly outperforming, dominance would fall as money spread into smaller coins; instead it climbed to around 61% this week before correcting to about 59%, near its highest level of the year.
Bitcoin surged past $72,000 in August 2026, driven by a massive short squeeze that liquidated billions in bearish positions.Key Catalysts US Treasury Bond Buybacks: The Treasury announced plans to expand long-term bond buybacks, lowering yields and pushing investors toward non-yielding assets like Bitcoin.White House Crypto Meeting: President Trump met with crypto executives, floating the idea of national Bitcoin reserves and pushing for regulatory clarity.Short Liquidation: The sudden spike wiped out over $3 billion in short bets within 24 hours, accelerating the upward breakout.#BTC突破7万大关
#BinanceTurns9 Binance is navigating a major regulatory transition in Europe after withdrawing its MiCA license application, leading to halted trading and new user restrictions for European customers. Meanwhile, the broader crypto market is seeing a steady climb, with the total market cap hovering at $2.17 trillion