Bitcoin jumps to $77,000 for a 23% weekly gain as yields slide

Bitcoin climbed to about $77,000 on Friday, putting the token on track for a weekly gain of roughly 23% after a sharp drop in US Treasury yields revived appetite for risk assets. The rally began after the Treasury moved to expand buybacks of longer-dated government debt, pushing yields lower and sending the dollar to a three-month low. Momentum accelerated as about $2.7 billion in crypto short positions were liquidated, according to CoinGlass. Sentiment also improved after President Donald Trump met crypto executives including representatives of Coinbase, Payward and Blockchain.com, fueling hopes that the Clarity Act could still advance in the coming weeks.