Finance

Bitcoin climbed significantly over the past 24 hours to trade above $77,000, capping off its most robust weekly performance in over two years. The rally was catalyzed by an expansion of the U.S. Treasury's bond buyback program alongside renewed legislative pushes from the White House to advance the stalled Digital Asset Market Clarity Act.

U.S. government bond yields remained near their highest levels in over a decade even as Treasury Secretary Scott Bessent initiated efforts to mitigate borrowing costs. Traders continued to test policy limits, pushing the 10-year and 30-year Treasury yields higher and driving up speculative bets for another Federal Reserve interest rate hike later this year.

Precious metals moved sharply higher on Friday, with front-month gold futures settling at $4,624.10 a troy ounce to achieve a weekly gain of over 5%. Rising sovereign debt and ongoing concerns over the nation's long-term fiscal path have fueled continuous institutional interest in gold as a primary hedge against inflation and a weaker U.S. dollar.