Bitcoin Surges $14,000 in Record Week
Bitcoin's price surged by a record $14,000 over the past week, closing at $77,387 on TradingView's calculations. This represents a 22.4% increase.
The cryptocurrency briefly exceeded $79,000, with prices reaching as high as $79,500 on Binance, its highest level since mid-May.
Strive CEO Matt Cole sees this rally as the start of a new Bitcoin cycle. He cites the performance of the BTC/GOLD pair as one of the signs that the bear market is coming to an end. The pair has outperformed the digital asset's movement against the dollar twice, with the low against gold occurring in February 2026 while the low against the dollar did not occur until July.
Cole believes that a new cycle will receive support from the long-term weakening of the dollar and AI. He expects strong demand in the event of a decline and notes that 'Bitcoin will claim an ever-larger share of the growing pool of capital.'