Bitcoin surges over 24% in a week, with $2.7 billion in short liquidations recorded amid policy optimism.

Author: Claude, Shenchao TechFlow

DeepChain Summary: This week, Bitcoin rose over 24%, breaking above $78,000 to record its best weekly performance since March 2024. The rally accelerated following a series of pro-crypto signals from Washington, then further fueled by forced liquidations of short positions. According to CoinGlass data, approximately $2.74 billion in crypto short positions were liquidated within 24 hours, marking the largest short squeeze on the platform since records began in 2021. Key drivers included the SEC’s token issuance exemption proposal, progress on the CLARITY Act, Trump’s mention of Hyperliquid, and the Treasury’s expansion of long-term Treasury buybacks.

This week, Bitcoin started from around $63,000, peaking near $79,500, and closed the weekly candle above $77,000, posting a weekly gain of over 24%. Multiple data sources confirm this was the strongest week since March 2024 and, by some measures, one of the largest weekly gains in recent years.

Rose over 24% in a single week, marking its best performance in recent years.

The market movement is not an isolated technical rebound. Previously, the market had been trading sideways near $60,000 for several weeks, with volatility compressed to multi-year lows and a dense cluster of short liquidation zones accumulating above. Once the price broke through, forced buying from liquidations rapidly amplified the upward move.