Bitcoin Holds $77K as Gold Hits 14-Week High on Treasury Buys
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- Bitcoin consolidated above $77,000, up nearly 6% on the day, reaching its highest level since May 15 against the US dollar
- Gold hit a 14-week high of $4,632 per ounce, up 2.2% on the day, with monthly gains of 16% versus Bitcoin's 13%
- The Kobeissi Letter attributed the parallel rally to inflation, record deficit spending, and the Treasury Department's pledge to double certain debt buyback operations to $4 billion
- QCP Capital noted a cross-asset divergence: Treasuries gave back gains while BTC and gold did not retrace, and flagged surging Japanese government bond yields after a rare joint yen intervention
- Polymarket odds of BTC hitting $90,000 before January 1, 2027 reached 48%, up sharply from the start of the week
- Rekt Capital warned Bitcoin must reclaim its 50-week EMA at $77,232 to confirm a new macro uptrend, with rejection maintaining its series of lower highs
Why it matters: Both BTC and gold held gains as Treasuries gave theirs back after the buyback announcement, exposing alternative-asset sensitivity to long-end rates. Polymarket puts 48% odds on $90K BTC by 2027, but reclaiming the $77,232 50-week EMA is the next test to break the lower-high pattern.
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