Bitcoin Skyrockets 22.6% in Biggest Week Since Trump Era
Bitcoin saw its biggest week since November 2024 as it gained 22.6% over seven days, surpassing even the excitement around Donald Trump's presidency in 2024. This surge is attributed to President Trump pushing for the passage of the CLARITY Act at a White House meeting with crypto executives on Wednesday.
Bitcoin reached its highest level in three months on Friday, breaking through the $76,977 mark and adding 6.4% over 24 hours. Other major tokens also experienced significant gains, with Ether rising by 28.8%, XRP increasing by 36.7%, and Solana climbing by 21.5%. US spot Bitcoin ETFs saw a massive influx of capital on Thursday, taking in $606.3 million, with BlackRock's IBIT accounting for $503 million of it.
Funding rates remained near zero throughout the rally, indicating that shorts covering and spot ETF flows drove the price increase rather than perpetual trading. Despite this impressive growth, Bitcoin remains 38.9% below its October 2025 record.