Bitcoin Breaks Downtrend with Strongest Weekly Gain Since 2023

Bitcoin has experienced its strongest weekly percentage gain since 2023, rising by 23.58% and adding $14,833 in value.

The price of Bitcoin broke a 10-month downtrend as it approached $79,000, reclaiming the 200-day moving average near $69,000.

Derivatives data show more aggressive bullish positioning, with perpetual funding reaching its highest level of 2026 during the recent squeeze.

However, open interest remains below January and May peaks, which could be a sign of potential corrections.