BTC Surges Past $77K on Strong ETF Demand

Bitcoin's price surged by 22.7% in a record week, closing at $77,387 after adding $14,264 to its value.

The rally was fueled by the U.S. Treasury doubling planned liquidity buybacks from $2 billion to at least $4 billion per operation and strong demand through U.S. spot Bitcoin exchange-traded funds (ETFs), which recorded $1.92 billion in net inflows during the week.

While this marks a significant gain, analysts are cautioning against overbought risk with RSI hitting 71.6 and the Fear & Greed Index climbing to 78.

The cryptocurrency now faces resistance at $80,000, making it a decision zone for traders.