Bitcoin Rally Is Outrunning the Rest of the Market: Here’s Why
Bitcoin surged to near $79,000, rising about 24% in a week and outpacing most of the crypto market. Ethereum gained around 30%, but broader altcoin measures lagged: Total3 fell on the week and Total2, after briefly topping $1 trillion, has given back part of its gains. Bitcoin dominance rose toward 61% before easing to about 59%, and the Altcoin Season Index at 46 shows most altcoins are still trailing Bitcoin. The rally was driven by macro and policy news: the U.S. Treasury’s plan to double long-bond buybacks weakened the dollar and boosted Bitcoin as an inflation hedge. A White House meeting with crypto executives and push for the Clarity Act added support. Bitcoin’s move also triggered a short squeeze, with more than $4 billion in crypto shorts liquidated. A break above $80,000 could target $82,000–$87,000, while $75,000–$76,000 is key support.
