Bitcoin Surges Past $77K on Renewed Confidence in Strategy's Treasury
Bitcoin's price surged to nearly $77,000 on Friday, reclaiming levels not seen since late May. This rally coincided with renewed confidence in Strategy's corporate treasury position, which had been under scrutiny after the firm's earlier BTC sales.
According to TradingView data, BTC/USD posted local highs above $77,400 before the week's final Wall Street session. This move placed Strategy's holdings back above its stated cost basis of $75,385 for 840,447 BTC, a threshold that matters to investors watching whether the company's Bitcoin-backed capital strategy remains sustainable.
On-chain analytics from Glassnode highlighted a dense realized-price cost-basis cluster forming below $70,000, with roughly 11% of BTC supply in the $58,000, $67,000 band. This concentration is seen as a potential support zone should price retrace.