Bitcoin Surges 23% in One Week Amid Historic Short Squeeze

Bitcoin has recorded its strongest one-week gain since the November 2024 US presidential election, increasing by 23% to over $80,000. The surge in price is largely due to a historic short squeeze and forced deleveraging.

Average daily Bitcoin spot volumes jumped 188% week-over-week to $4.7 billion, reaching their highest level since early June. This increase came after a prolonged period of consolidation marked by declining volumes and volatility.

Bitcoin exchange-traded products (ETPs) also saw their strongest weekly inflows since October 2025, with net inflows reaching 31,740 BTC. However, holdings remain 121,743 BTC below their previous peak following heavy outflows between mid-May and June.