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The world’s largest and most popular cryptocurrency Bitcoin A tremendous and historic rise has been seen this week. Due to this heavy buying in the last few days, Bitcoin is rapidly moving towards its biggest weekly rally in the last 3 years. After a spectacular jump of almost 9.4 percent in a single day, its price $77,500 has crossed the level of and it is now $80,000 It is getting very close to the psychological figure of Rs. During this entire week, Bitcoin has registered a huge gain of about 23 percent. If this pace continues like this, it will be the biggest jump on a weekly basis after March 2023.

Boost received from US Treasury announcement and short covering

The main reason behind this sudden and stormy boom in the crypto market is the US economic policies and the big step taken by the Treasury Department. It was recently announced by US Treasury Secretary Scott Bessant that his department is going to at least double the buybacks of long-term bonds. After this announcement, expectations of liquidity increased in the global financial markets, due to which traders were forced to cut their short positions worth billions of dollars. Apart from this, the meeting of US President Donald Trump with the leading leaders of the crypto industry also increased the enthusiasm of investors further.

What is the opinion of market experts and analysts

Financial experts and market analysts believe that this change in the bond market and the intervention of the US Treasury has led to a decline in bond yields, due to which investors have increasingly shifted towards risk assets. According to BTC Markets analyst Rachel Lucas, the main reason for this rally was the doubling of long-term bond buybacks, which has improved risk appetite and appetite on a large scale. However, experts have also advised that this sharp movement of the market is associated with high volatility, hence investors should be very cautious in making their strategy.