Treasury Buybacks Spark Bitcoin Rally Amid ETF Inflows

Bitcoin posted its best week since 2023, fueled by strong ETF inflows after the Treasury announced plans to at least double its long-dated bond buybacks. The price of Bitcoin surged to $77,155, a gain of 23% over the past week.

Ethereum, XRP, and Dogecoin also rallied significantly, with gains of over 25%. Ethereum's price reached $2,418, while XRP climbed to $1.39 and Dogecoon rose to $0.0846.

Trader Michael van de Poppe compared Bitcoin's recent performance to the 2022 breakout, with a strong weekly candle following consolidation and a sweep of the lows. He expects a push toward $83,000 and the 50-week moving average, though resistance there could trigger a correction and profit-taking.