Bitcoin Surges Past $76,000 Amid Record ETF Inflows

The crypto market has experienced a significant three-day rally, with Bitcoin surging to $76,945 and breaking out of its year-long downtrend. This surge is largely attributed to large investors, with Thursday's trading session ending in records for U.S. funds: net inflows into Bitcoin ETFs reached $606.29 million, the highest since May.

The Treasury Secretary Scott Bessent's announcement that the department would double long-term bond buybacks to at least $4 billion per operation has also contributed to this rally, injecting liquidity into the market and pushing down U.S. Treasury yields. This move has weakened the dollar, causing large investors to redirect their funds into Bitcoin and the technology sector.

Strategy's balance sheet has been revived as a result of this surge, with its 840,447 BTC treasury value climbing above $64.6 billion. The company's average purchase price is now below the current spot price, erasing previous panic-driven losses and bringing it back into profit.