Baycent policy ignites crypto bull market, BTC rises 23% weekly to a two-year high

According to Woofun AI, US Treasury Secretary Scott Bessent announced the expansion of treasury bond repurchases, directly depressing yields and weakening the US dollar, becoming the core macro variable that ignited the current round of the market and driving Bitcoin to recover its second-best weekly gain since the beginning of 2021.

At the price level, Bitcoin surged from around $62,000 to a high of $79,500 and then fell back to $77,000, recording a weekly gain of 23.6%. This performance is second only to the rebound after the Silicon Valley Bank crisis in March 2023, and is the second-best record since February 2021. Ethereum showed an even stronger performance, rising 31.3% from $1,900 to above $2,520 before pulling back slightly to around $2,500. On the financial side, data compiled by Woofun AI showed that Bitcoin ETF had a net inflow of $1.92 billion last week, the highest weekly record since October 10 (when the BTC price was slightly below the historical high of $126,000); the net inflow of Ethereum ETF was $697 million, which is also the best weekly performance since the beginning of October 2025.

Technically, both Bitcoin and Ethereum have broken through the 200-day simple moving average, and the 50-day moving average has turned upward, and the 'gold fork' signal is approaching. In terms of macroeconomic linkage, 'value preservation trading' logically returned, with gold rising above $4,600, with a monthly increase of 15%, and stabilized at a 200-day average of $4,504; the US dollar index (DXY) fell to 98.9, falling below the 200-day average of 99.1. The weak dollar resonated with the low-yield environment, strengthening the hedging properties of scarce assets.

The weakening US dollar exchange rate and declining yields form a long-term favorable basis for risk assets. In this macro context, the allocation value of cryptocurrencies and gold as non-sovereign credit assets is further highlighted, and market liquidity is expected to continue to lean towards such highly flexible targets.