Weekly Wrap: The Crypto Rally Continues

Bitcoin (CRYPTO: $BTC) managed to eke out a small 3% gain over the past week despite plenty of volatility in financial markets. Crypto, and the broader stock market, were roiled in recent days as yields on U.S. Treasurys hit their highest levels in 20 years. However, Bitcoin has managed to keep the rally that began at the end of August going.

BTC was trading at just under $84,000 U.S. late on Sept. 25. Since the end of August, Bitcoin's price has risen 30%. Other digital assets were also in the green to end the week, with Ethereum (CRYPTO: $ETH) and Solana (CRYPTO: $SOL) each up about 2% over the previous 24 hours. Analysts say Bitcoin needs to remain above $80,000 U.S. for a sustained bull run to continue.

Crypto was getting some relief heading into the weekend as the yield on the benchmark 10-year Treasury held firm at 5.20% after steadily climbing in recent days. Oil prices were also in retreat on hopes for renewed peace talks between the U.S. and Iran. Brent crude, the international standard, was down 2% and trading at $104.75 U.S. per barrel.

Here's what else happened with cryptocurrencies over the past week…

Bitget Loses $352 Million To Hackers: Cryptocurrency exchange Bitget says $351.6 million U.S. in funds have been stolen in a hack on its platform. Bitget CEO Gracy Chen said Bitget's cold wallets and user funds were safe, but that there were "unauthorized transfers from some of our hot wallets." The company said that deposits and trading remain online at the crypto exchange. However, withdrawals have been "temporarily paused" until it finishes a security review.