Bitcoin Surges Past $79K, Ethereum Gains 28% as Bull Cycle Hopes Rise

seekingalpha.com

Bitcoin surged past $79,000, marking its sharpest rally of the year with a 25% weekly gain, while Ethereum climbed over 28% to reclaim $2,400, signaling a potential new bull cycle. The rally was triggered by a Treasury buyback, not quantitative easing, and a record $2.75 billion in short liquidations amplified the move. However, the Coinbase premium remains negative after 95 days, indicating weak US spot demand. Analysts advise watching whether spot and perpetual futures demand stay positive, if the Coinbase premium flips, and if Bitcoin holds the $75,700 support level to confirm sustainability.


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