Bitcoin Surges to $79,500 on Strong Rebound

Bitcoin continued its strong rebound this week, surging as much as 9.4% during Friday's session to reach a high of $79,500.

The cumulative gain for the week expanded to approximately 23%, with Bitcoin now just one step away from the $80,000 threshold.

According to Rachael Lucas, an analyst at BTC Markets, a key factor driving the current rally is the U.S. Treasury's expansion of long-term Treasury bond buybacks.

This has improved risk appetite across the entire market and contributed to Bitcoin's surge.