Bitcoin’s Record Weekly Dollar Surge: Largest Gain in Cryptocurrency History 🚀

GM. This is Milk Road Crypto, where the green candles are officially back on the menu. Here’s what we’ve got for you today: Nexo is a leading digital asset platform that assists clients in building, managing, and safeguarding their wealth. Start your journey with Nexo today. Prices as of 2:00 p.m. ET. Powered by CoinGecko.

It’s clear that John is enjoying an exceptional week. While our other PRO analysts have a mix of crypto and stock investments, John is fully committed to cryptocurrency. The primary catalyst for Bitcoin’s surge, along with the broader crypto market, is the U.S. Treasury’s bond buybacks. We previously outlined the implications of this development in yesterday’s report. As a result, Bitcoin has surged from about $64,000 to $77,000 in less than two days. In essence, Bitcoin is once again demonstrating its strength.

If Bitcoin manages to close above $74,200 by Sunday night, it will achieve the largest weekly gain in terms of dollars ever recorded for the cryptocurrency. However, John is closely monitoring the situation. The initial price increase seems to have been prompted by a short squeeze, but now spot buyers and ETF inflows are beginning to bolster the ongoing rally. According to John, “This is VERY bullish. Even more bullish than the initial squeeze.” The reasoning behind this is that while a short squeeze can lead to a rapid price increase, it may not be sustainable. In contrast, spot buying indicates that investors are actively purchasing Bitcoin at these elevated prices, suggesting that the rally is transitioning from forced purchases to genuine demand, which is a more robust scenario.

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While Bitcoin is experiencing its most remarkable week to date, Ethereum is outshining it. In fact, Ethereum’s Spot ETF inflows have recorded their strongest single-day buying in the past ten months, indicating that spot buyers are stepping in to support the rally following the initial short squeeze. The only factor currently surpassing ETH is HYPE, particularly since the sitting president of the United States has been actively promoting it. We have anticipated this moment for quite some time, and it’s refreshing to witness renewed energy and interest in the crypto space. Although the short-term future remains uncertain, our analysts suggest that this trend bears resemblance to the rallies that propelled us out of the bear markets in 2019 and 2022, so prepare for potential volatility!

All the insights you just read were derived from real-time updates shared by our PRO analysts. John, Vincent, and Kyle are closely monitoring this crypto movement, each bringing a unique perspective. Inside Milk Road PRO, you won’t have to wait for our newsletter to receive updates. You’ll gain immediate insights into what John is watching, what assets Vincent is holding, where Kyle stands on various issues, and how each analyst is adjusting their portfolio. We’re also running a limited-time campaign before the price of Milk Road PRO increases. This is your final opportunity to join at the current rate. Get access to real-time insights from the analysts and discover exactly what they are buying, holding, and observing. Join Milk Road PRO before the price rises.

If you own Bitcoin but need cash, Ledn allows you to borrow against your BTC without selling it. *Matt Crosby notes that multiple on-chain signals are aligning simultaneously. Tom Lee emphasizes that comparisons between today’s AI spending and the dot-com bubble overlook a critical distinction. Scott Melker expresses confusion about the bearish sentiment surrounding the current market. *This is sponsored content. Start your journey with Nexo today.

Source: @boldleonidas Source: @Tooly

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