Bitcoin: Weekly Gain Hits 22% on Treasury Move
Bitcoin surges 7% Friday for 22% weekly gain after Treasury doubles longer-dated purchases to $4B; $77528.03 price shows RSI 94.52 overbought on 4h chart.
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Bitcoin extended its rally Friday with a 7% gain, positioning the token for a 22% weekly advance, the strongest in more than three years.
The move followed U.S. Treasury Secretary Scott Bessent doubling purchases of longer-dated Treasuries from $2 billion to at least $4 billion, a policy signal aimed at capping yields near 2007 highs.
BTC price action at $77528.03 sits inside Bollinger Bands with upper resistance at $79672.87; the 50-EMA holds at $67882.56 and 200-EMA at $65128.0 while MACD prints a bullish golden cross at 3303.0. With price testing upper Bollinger resistance at $79672.87 while RSI flashes overbought at 94.52, a healthy retracement to the 50-EMA support at $67882.56 seems probable before further continuation.
Gary Black
@garyblack00An influential investment strategist focused on equity markets and macroeconomic trends, with particular expertise in Tesla analysis. The content centers on stock valuations, ETF impacts, and corporate governance issues, blending fundamental research with market commentary for long-term investors.
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