Bitcoin Surges 20% in Largest Weekly Gain Since 2023

Bitcoin (BTC) price has surged more than 20% over the past week, reaching its largest weekly gain in 3.5 years.

The rally is partly attributed to comments from President Trump, who called on lawmakers to pass the Clarity Act, a bill aimed at creating a clear regulatory framework for crypto in the U.S.

Treasury policy also played a role, with the U.S. Treasury doubling its buybacks of longer-dated bonds, releasing more liquidity into financial markets and benefiting risk assets like Bitcoin.

The move is seen as part of the 'debasement trade,' where rising fiscal deficits weaken the dollar and push investors toward alternative stores of value like crypto and gold.