Bitcoin surged more than 23% over the past week, marking its largest weekly gain since March 2023 as renewed risk appetite returned to digital assets. The rally pushed the world’s largest cryptocurrency back toward the $80,000 level, fueled by a combination of improving macro sentiment, heavy short covering, and strong institutional demand.
The sharp advance triggered billions of dollars in short liquidations across the crypto market and reignited momentum after months of subdued trading. Market participants also pointed to continued inflows into spot Bitcoin investment products and growing expectations that a more supportive liquidity environment could benefit risk assets, including cryptocurrencies.
The move represents one of Bitcoin’s strongest rallies in recent years and has lifted sentiment across the broader digital asset market. While volatility remains elevated following the rapid advance, the breakout reinforces Bitcoin’s ability to stage powerful recoveries when macro conditions improve and institutional capital returns to the market.
