The world's largest and popular cryptocurrency Bitcoin has seen a tremendous and historic rise 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 surge of almost 9.4 percent in a single day, its price has crossed the level of $77,500 and is now getting very close to the psychological figure of $80,000. 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. The main reason behind this sudden and stormy rise 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 due to this change in the bond market and the intervention of the US Treasury, bond yields have declined, due to which the attitude of investors has shifted rapidly 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.
