Bitcoin surged more than 23% this week to trade near $77,559, briefly exceeding $79,000 on Friday, as crypto markets rebounded sharply. The rally pushed Bitcoin above its 200-day moving average for the first time since November 2025, a technical milestone often interpreted as a bullish trend signal.
Ethereum gained 31%, Solana climbed 28% and XRP jumped 53%, while Bitcoin and Ether ETFs recorded inflows exceeding $2.61 billion combined. Michael Saylor’s Bitcoin Strategy holdings breached the $75,385 breakeven mark, restoring profitability to his firm’s positions. Polymarket odds for Bitcoin reaching $90,000 before 2027 rose to 48%.
The rally coincided with a surge in publicly traded crypto-related stocks, including Canaan, Metaplanet, Coinbase and Robinhood, all of which posted double-digit gains. Analysts attributed the momentum to U.S. fiscal policy, as the national debt surpassed $40 trillion and interest payments on the debt approached Medicare’s annual cost, second only to Social Security among federal expenses.
Ray Dalio, founder of Bridgewater Associates, reiterated a recommendation to allocate 15% of portfolios to gold and a smaller share to Bitcoin, warning of potential fallout from U.S. debt dynamics. He estimated a 60% probability of a U.S. debt crisis within three years if current fiscal policies persist.
President Donald Trump called for swift passage of the CLARITY Act, a crypto market structure bill passed by the House in July 2025, ahead of a Senate procedural vote on September 15. Trump described the bill as bipartisan and urged Congress to act to maintain U.S. competitiveness against China. However, Senate Democrats signaled resistance unless concessions on ethics provisions were included.
The SEC proposed new crypto rules that could exempt token issuances of up to $5 million over four years or $75 million annually, provided stricter reporting and structural requirements are met. Commissioner Hester Peirce characterized the proposals as a step toward clearer, enforceable regulations for crypto offerings. CFTC Chair Michael Selig warned that the agency would advance its own crypto rules if the CLARITY Act stalled in the Senate, directing staff to explore leveraged trading and developer protections.
Standard Chartered’s Geoff Kendrick revised his year-end Bitcoin price target, suggesting the $100,000 forecast may prove conservative. Kendrick cited short liquidations and recovering ETF inflows as key drivers, noting low open interest could amplify further gains. Bitget CEO Gracy Chen, however, projected Bitcoin would trade broadly within current ranges through year-end, citing interest rate risks and macroeconomic sensitivity.
