Oh, what a week it was in the cryptocurrency (and not only) markets. We will dig into all of that as finally, after weeks (and even months) of sideways action without any clear indication of a breakout, BTC skyrocketed to fresh peaks.

But before we go into details on that, let’s rewind the clock to last Friday, when the primary cryptocurrency was struggling a lot. Despite the positive US CPI data from a few days back, the asset slumped to $62,500 to mark a ten-day low. Again, little to no indication of what was about to happen soon.

The bulls tried to intervene and helped bitcoin recover to $63,000, where it spent the entire weekend with no actual volatility. The first minor signs of a bullish change came on Monday when BTC gradually increased to $64,000. It tapped $65,000 on Tuesday, but as it has frequently happened in the past few months, it was rejected and slipped back down to $64,000.

Then came Wednesday. Instead of another rejection, the bulls took the front seat. In fact, they took all seats, initiating a massive leg up that drove BTC to $70,000 within hours, liquidating over $1 billion in shorts in 60 minutes. After a brief correction to $68,000, bitcoin went on the offensive once again. This time, it flew to $72,000.

The scenario repeated a few more times, and the culmination, at least for now, took place earlier today. Bitcoin skyrocketed to almost $80,000 for the first time in over three months, gaining $15,000 in 48 hours.

Its massive run was finally halted, or at least paused, and BTC now sits at around $77,000. Nevertheless, the weekly gains are nothing short of mind-blowing, showing a 23.6% surge. Some altcoins have performed even better, with ETH touching $2.4K earlier today after a 30% pump. XRP stole the show as it rebounded from the $1.00 support with a spectacular 40% surge to $1.40.

Other massive gainers include SOL, HYPE, ZEC, DOGE, LINK, ADA, BCH, and many, many more. The chart below paints a very clear picture. After all, the total market cap has added more than $400 billion since Wednesday.

Market Data

Market Cap: $2.670T | 24H Vol: $350B | BTC Dominance: 57.9%

BTC: $77,300 (+23.6%) | ETH: $2,390 (+28%) | XRP: $1.40 (+40%)

This Week’s Crypto Headlines You Can’t Miss

Why Did the Bitcoin Price Suddenly Spike Toward $73K? Let’s begin with perhaps the most important question: why did BTC rally so hard? The most obvious answer came just minutes before the Wednesday explosion when the US Treasury Department announced it would double the maximum size of liquidity-support buybacks for long-dated government debt, raising them from $2 billion to at least $4 billion.

Bitcoin Back Above $100K? Scaramucci Says the 2028 Halving Holds the Key. Given the latest developments, making bold price predictions is back on the table. Anthony Scaramucci noted, even before BTC’s surge, that the asset is likely to return to a six-digit price territory by its next halving, which is scheduled to occur in H1 2028.

Strategy Stays Put on Bitcoin but Sells a Massive 3.46 Million Shares. More positive news this week came (or didn’t) from Strategy, as the firm refrained from selling more BTC. It didn’t buy any, either, but at least the company has paused its offloads, for now.

Ripple Whales Go Crazy as XRP Price Can’t Stop Surging. As mentioned above, XRP is among the top performers in the past few days. There were some indications of a big move in the making, mostly coming from whales. These large market participants went on an accumulation spree in the past week, scooping almost 400 million tokens in total.

Polymarket Hit With Access Block in South Korea Over Gambling Allegations. The leading predictions platform continues to hit roadblocks in numerous jurisdictions, and South Korea has emerged as the latest one. The local regulator blocked domestic access to Polymarket after determining that its services facilitated activities considered illegal gambling.

Trump Wants the US to Lead Crypto: Here Are the Biggest Takeaways From the White House Meeting. US President Trump hosted leaders of numerous cryptocurrency firms at the White House on Wednesday (yes, around the time of the price surges), pushing for approval of the highly anticipated CLARITY Act. He also said his administration mulled buying sizeable amounts of bitcoin and other digital assets.

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.

Source: CryptoPotato