Bitcoin seeks support near $77K as BTC, gold near 100-day highs
Bitcoin consolidated above $77,000 after the Wall Street open, briefly reaching its highest level since May 15 and gaining nearly 6% on the day. Gold also surged to 14-week highs near $4,632 per ounce, with both assets posting strong monthly gains. The rally was linked to inflation, deficit spending, and U.S. Treasury policy, including expectations of larger debt buyback operations. Commentary also pointed to broader global stress, including rising Japanese government bond yields. Analysts said the move shows BTC and gold are highly sensitive to changes in long-term rates and the dollar, though it does not yet signal a new monetary regime. Prediction markets raised the odds of Bitcoin reaching $90,000 before 2027 to about 48%. Some traders remained cautious, saying BTC still needs to reclaim its 50-week EMA near $77,232 to confirm a new macro uptrend.
