Bitcoin surges 22% for the week as investor optimism floods back
The flagship digital currency has enjoyed a strong week boosted by several contributing factors.
TL;DR
- Bitcoin achieved a 22% weekly gain, finishing at $76,943.90.
- The rally was triggered by falling Treasury yields and a substantial short squeeze in crypto.
- The Clarity Act's potential passage has boosted investor optimism.
- Despite the surge, Bitcoin is still below its all-time high.
- Some analysts believe the crypto bear market is nearing its end, possibly after one more decline.