Bitcoin climbed 8.4% to $77,690.60 by 10:51 a.m. ET on Friday, after briefly touching an intraday high of $79,600.60. The advance extended a weekly gain of about 23%, marking the strongest performance since February 2024, according to market data.
The surge lifted Bitcoin out of the $60,000–$70,000 range that defined most of 2026. Despite the weekly rally, the cryptocurrency remains down roughly 15% year-to-date after falling more than 50% from its October all-time high.
Short liquidations totaled $3 billion, accelerating the breakout. The move coincided with the U.S. Treasury’s announcement that it would double bond buybacks to curb rising yields, a policy shift that increased liquidity conditions and supported risk assets. Analysts noted Bitcoin’s behavior as a liquidity proxy during the shift.
U.S.-listed spot Bitcoin ETFs recorded inflows of approximately $1 billion this week, the largest weekly total since January, according to data aggregator SoSoValue. The inflows reflect growing institutional interest amid improving regulatory sentiment.
The regulatory catalyst came as U.S. President Donald Trump urged Congress and regulators during a White House summit to advance the Clarity Act, a proposed framework aimed at establishing clear rules for the crypto industry. The bill has faced delays in Congress due to disputes over digital asset classifications and stablecoin yield treatment. Trump also escalated tensions with Iran, vowing an "economic war" in response to regional actions, adding to the market’s risk-on tone.
Among major crypto tokens, Ether rose 5.5% to $2,400.69, while XRP gained 15.7% to $1.41. Solana advanced 5.3%, Cardano surged 10.8%, BNB climbed 6%, and Dogecoin increased 8.6%. The $TRUMP memecoin rose more than 12%.
Corporate crypto holders also rallied. Strategy Inc (NASDAQ:MSTR) gained 7.8% on Thursday, while Coinbase Global (NASDAQ:COIN) rose 7.9%. Mining firms Mara Holdings (NASDAQ:MARA) and Riot Platforms (NASDAQ:RIOT) surged 15.5% and 8.3%, respectively, with Riot also posting post-market gains between 3.5% and 10%. Japanese firm Metaplanet (TYO:3350), which holds over 40,000 bitcoins, gained more than 20%.
Ran Hammer, Chief Business Officer at Orbs, attributed the rally to two factors: falling yields driven by Treasury buybacks and regulatory momentum from the Clarity Act. "Institutions are not waiting for higher prices—they are waiting for clear rules. That’s what will bring real money," Hammer said. The Clarity Act’s progress remains a key focus for market participants amid ongoing legislative uncertainty.
