Bitcoin Hits 10-Week High as Macro Risk Appetite Returns

Bitcoin (BTC) reached a new ten-week peak on Friday, climbing above $77,000. The rally coincides with a broader shift in global risk sentiment, as investors move away from geopolitical hedges and toward growth assets following a ceasefire between Israel and Lebanon. The surge was further supported by historic strength in traditional markets. The S&P 500 reached a milestone of 7,050 points for the first time, sealing its highest-ever close and signaling a strong appetite for risk across both traditional and digital asset classes. Institutional demand continues to provide a fundamental floor for the price. Data from Farside Investors indicates that U.S. spot Bitcoin ETFs have recorded $330 million in net inflows week-to-date, suggesting sustained professional interest despite previous volatility. Market analysts remain divided on the immediate trajectory. Some traders predict a move toward $88,000 within the next two to four weeks, citing a decline in the VIX volatility index and reduced volatility in oil and gold. Conversely, some skeptics warn that declining trading volume during the ascent may signal fading momentum and a potential correction. From a technical perspective, the level of $72,800 has emerged as the pivotal point to watch. Analysts suggest that a weekly close above this resistance level is necessary to confirm the current bullish trend and protect against a deeper macro downtrend.