Bitcoin rallied 24% to $77,700 on U.S. Treasury bond buyback liquidity, short liquidations, and ETF inflows, though on-chain metrics suggest caution.
Macro & Markets ·
Bitcoin climbed nearly 24% to close near $77,700 after breaking out of a multi-month consolidation range, driven by expanded U.S. Treasury bond buyback liquidity and the liquidation of $3 billion in short positions over two days. U.S. Bitcoin ETFs recorded $1.92 billion in weekly net inflows, their largest weekly total since October 2025, pushing assets under management above $96 billion, though on-chain metrics show subdued transfer volumes remaining near eight-year lows and futures open interest rising to $51 billion without corresponding elevated long liquidations.