Bitcoin’s bulls are firmly back in control, and this rally has real fuel behind it rather than empty hope, according to the CEO of a leading independent financial advisory and staunch crypto advocate.
Bitcoin surged around 18% in in two days trading on Friday to peak above $79,000, its first push back above the $70,000 mark since late May.
Over the weekend, the benchmark cryptocurrency traded in the $76,000-78,000 range, picking up momentum at the start of the week and briefly touching $81,000 early Tuesday, before settling in the previous days’ range.
The move followed the US Treasury’s decision to double the size of its long-term bond buybacks to $4 bln per session, targeting the 10-year, 20-year and 30-year sectors after benchmark yields hit their highest levels in 20 years on persistent inflation and war-driven energy pressures.
“Bitcoin just proved, again, that it trades on liquidity before almost anything else,” said deVere Group’s Nigel Green.
“The moment Treasury signalled it was stepping up its own bond buying, Bitcoin moved. I call it pattern recognition rather than hype.”
Treasury Secretary Scott Bessent said last week he has a “big toolkit” available to keep leaning on yields.
Sentiment was lifted further by a White House meeting between Donald Trump and senior figures from the crypto industry where the U.S. president called for a “fair version” of the Clarity Act and said the US intends to remain the leading nation in Bitcoin and digital assets.
“Digital assets have consistently rewarded expectations of looser financial conditions, and doubling a buyback programme to $4 bln a session is exactly that kind of signal,” explained Green.
“This year’s quiet patch in crypto never reflected a loss of belief in the asset class. It reflected liquidity being pulled elsewhere, into an overheated AI and semiconductor trade and away from anything perceived as risk during a tense stretch following conflict in the Middle East.
“Every one of those pressures is now easing at the same time, and Bitcoin is repricing accordingly.
“Scott Bessent talking about a big toolkit matters more than markets are giving it credit for. Investors should read that as a signal of intent, not just a comment.
“A US Treasury willing to keep intervening at this scale is a Treasury that’s going to keep injecting the kind of liquidity that digital assets have historically loved,” the deVere chief executive added.
Whether or not the Clarity Act passes in the coming weeks, the direction of travel now appears unmistakable.
If it clears Congress, that removes years of regulatory uncertainty in one move, Green explained. If it stalls, expect regulators to move anyway, with faster rulemaking around round-the-clock derivatives, tokenised equities and a genuine push to keep the US positioned as the dominant market for these assets.
“Bitcoin above $77,000 reads as confirmation that the bottom is behind us, rather than the top of this move.
“The asset had not traded above $70,000 since late May, and it’s now cleared that level with real conviction behind it rather than a thin, low-volume bounce.
“Liquidity appears to be coming back into the system, Washington is engaging with this industry rather than sitting on the sidelines, and Bitcoin is doing what it has always done best when both of those things happen at once.”
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