Bitcoin is trading around $77,000 after gaining more than 23% last week, its strongest weekly performance since March 2023. The rally came as investors poured $1.92 billion into US spot Bitcoin ETFs, the biggest weekly inflow since October 2025, while also taking profits on Friday to the tune of $1.72 billion, the largest daily total since November 2024. Sentiment across crypto improved after the US Treasury said it would expand its debt buyback operations.
Treasury's buyback expansion
The Treasury's move to broaden its debt buyback program helped shift sentiment in risk assets, and crypto rode along. Bitcoin had been stuck in a consolidation phase for months, but the news seems to have pushed it through the top of that range. The price now sits well above its 200-week simple moving average at $64,571, a level that had acted as a floor during the breakout.
ETFs and profit-taking
ETFs absorbed a big chunk of the selling pressure. The $1.92 billion in weekly inflows is the strongest since October 2025, and it helped the market digest the $1.72 billion profit-taking on Friday. That's a sign that demand from institutional vehicles is still strong enough to match supply from traders cashing out. The profit-taking itself is notable — it's the highest daily total since November 2024 — but the price held.
Demand metric flips
On-chain data points to improving spot demand. CryptoQuant's apparent demand metric moved into positive territory after sitting negative since late February. That's a shift from the futures-led activity of the past few months, and it suggests the rally has a foundation in real buying. Whether that metric stays positive will be worth watching in the coming weeks.
The resistance zone
Bitcoin faces immediate resistance at $78,490, the 61.8% Fibonacci retracement level, followed by $80,000. A weekly close above $78,490 would strengthen the bullish case and could open the door to the 50-week simple moving average at $81,059. Above that, targets sit at $87,599 and $88,990. The weekly RSI is near 55, which is healthy but not extreme, while the daily RSI has climbed to roughly 79 — a sign the market is overbought in the near term. Still, price trades above its 50-day, 100-day, and 200-day exponential moving averages, at $66,786, $67,415, and $71,781, so the trend remains firmly up.
Investors will be watching to see whether Bitcoin can hold above the $78,490 level on a weekly close. If it does, the path toward $81,000 opens up. If not, the pullback could test the moving averages below.
