Bitcoin Rises 23% Weekly to Approach $80,000, as ETF Inflows Revisit Billion-Dollar Levels

Bitcoin staged a strong rebound this week amid a confluence of multiple factors, posting a weekly gain of approximately 23% to approach the $80,000 mark, recording its best performance in nearly two years. The U.S. Treasury’s expansion of long-term bond repurchase scale served as a key catalyst for the rally, driving long-term yields lower and improving market risk appetite, while the Trump administration also sent signals of supportive cryptocurrency policy, further boosting market sentiment. However, despite the recent sharp rebound, Bitcoin remains well below the all-time high of over $126,000 set in October last year, having previously fallen to as low as $58,642 at the end of June.

Macro Policy Shift Becomes Key Turning Point, Market Sentiment Rapidly Warms

The critical turning point for this rebound came on Wednesday. U.S. Treasury Secretary Bessent announced that the Treasury would at least double the scale of its long-term U.S. Treasury repurchase program, after which long-term Treasury yields declined, market risk appetite improved markedly, and risk assets such as Bitcoin strengthened accordingly. Rachael Lucas, an analyst at BTC Markets, noted that the Treasury’s expansion of repurchase scale was a key factor driving this market move, with the decline in long-term yields directly improving overall risk appetite. At the same time, U.S. President Trump met with executives from multiple cryptocurrency industry firms, including Coinbase (COIN) and Payward, at the White House on Wednesday, further reinforcing market expectations of government support for digital assets. Trump also urged the Senate to pass the cryptocurrency market structure bill, the “Clarity Act,” which had previously stalled in the Senate due to disagreements over ethics provisions and failed to come to a vote before the August recess.