Crypto
Bitcoin Surges Past $77,000 as Short Squeeze Accelerates Price Rally
The Bitcoin price continues to surge, surpassing $77,000 on Friday and heading towards its biggest weekly gain in three years.
At one point, the price of BTC reached $77,695 in a 24-hour period, with a daily increase of 8.4%.
This upward trend is being driven by a combination of factors, including a short squeeze and increased demand from investors.
Mati Greenspan, former senior analyst at eToro and founder of Quantum Economics, notes that the current market behavior bears similarities to the formation of bottom patterns in Bitcoin's price history.