CoinDesk
Bitcoin climbed from around $62,000 to as high as $79,500 before settling near $77,000, a 23.6% weekly gain and its second-best performance since February 2021. Ether jumped 31.3%, from below $1,900 to above $2,520 before easing below $2,500. Crypto ETFs drew $2.62B, including $1.92B in net inflows to spot Bitcoin funds and $697M to Ether funds.
Why it matters
The rally followed months of consolidation, low volatility and steady accumulation, leaving positioning sensitive to a catalyst. Treasury Secretary Scott Bessent's announcement of expanded Treasury bond buybacks pushed yields and the dollar lower, giving Bitcoin, Ether and other risk assets a macro tailwind.
The U.S. Dollar Index, or DXY, fell to 98.9, below its 200-day average of 99.1, while gold climbed above $4,600 and gained 15% over the past month. The weaker-dollar backdrop revived the debasement-trade narrative, which favors scarce assets such as Bitcoin and gold when investors worry about fiat purchasing power.
Market impact
Bitcoin and Ether both moved above their 200-day simple moving averages, a widely followed gauge of long-term trend. Their shorter-term averages are also turning higher, raising the prospect of a golden cross if the 50-day average crosses above the 200-day average.
ETF demand is the key test for the breakout. Bitcoin funds posted their strongest weekly inflows since Oct. 10, when Bitcoin was near its $126,000 record high. Ether funds had their strongest week since early October 2025.
Frequently asked questions
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How were the $2.62B in crypto ETF inflows split?
Spot Bitcoin funds took in $1.92B, while Ether funds attracted $697M. The combined crypto ETF total was $2.62B.
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What macro catalyst helped trigger the crypto breakout?
Treasury Secretary Scott Bessent announced expanded Treasury bond buybacks. The move pushed yields and the dollar lower, giving Bitcoin, Ether and other risk assets a macro tailwind.
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How did Ether's weekly gain compare with Bitcoin's?
Ether gained 31.3%, compared with Bitcoin's 23.6% weekly gain.
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What technical level did Bitcoin and Ether move above?
Bitcoin and Ether moved above their 200-day simple moving averages. Their shorter-term averages are also turning higher, raising the prospect of a golden cross.
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Where did the U.S. Dollar Index move during the breakout?
The U.S. Dollar Index, or DXY, fell to 98.9, below its 200-day average of 99.1. The weaker-dollar backdrop supported crypto and other risk assets.
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