ChainCatcher said Bitcoin rose about 24% over the past week and came close to $79,000, marking its best performance since 2023. Ether gained about 30% in the same period and moved above $2,500. The Total3 index, which excludes Bitcoin and Ether, pulled back after an early jump and was around $753 billion. Bitcoin dominance briefly climbed to about 61% before easing to around 59%, near this year’s high. CoinMarketCap’s altcoin season index stood at 46, well below the 75 threshold that defines an altcoin season, suggesting most altcoins have lagged Bitcoin over the past 90 days. ChainCatcher attributed the move mainly to the U.S. Treasury’s decision to double long-term bond buybacks from $2 billion to $4 billion, a weaker dollar that pushed flows into Bitcoin as an inflation hedge, and President Donald Trump’s White House meeting with crypto executives as he pressed Congress to pass the Clarity Act. Bitget Wallet research analyst estimated that more than $4 billion in crypto shorts were liquidated within two to three days after Bitcoin broke above $70,000. If Bitcoin keeps moving above $80,000, the next range could open toward $82,000 to $87,000.
Bitcoin rose about 24% over the past week, coming close to $79,000 and posting its best performance since 2023. Ether gained about 30% in the same stretch and moved above $2,500.
The Total3 index, which excludes Bitcoin and Ether, climbed early in the session and then gave back gains. It now stands at about $753 billion and is down for the week.
Bitcoin dominance briefly reached about 61% this week before easing to around 59%, near this year’s high. CoinMarketCap’s altcoin season index is 46, far below the 75 level used to define an altcoin season, indicating that most altcoins have underperformed Bitcoin over the past 90 days.
ChainCatcher said the latest move was mainly driven by the U.S. Treasury’s announcement that it would double long-term bond buybacks from $2 billion to $4 billion. A weaker dollar also pushed money into Bitcoin as an inflation hedge. Trump then met crypto executives at the White House and pushed Congress to pass the Clarity Act.
After Bitcoin broke above $70,000, a short squeeze followed. Bitget Wallet research analyst estimated that more than $4 billion in crypto shorts were liquidated within two to three days. If Bitcoin continues to break above $80,000, the next range could open toward $82,000 to $87,000.
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