Finance

Bitcoin climbed past $77,000, registering a 22% weekly gain to mark its best five-day performance in over two years. The digital asset's strong upward momentum was heavily driven by a weakening U.S. dollar and renewed political support from the executive branch to advance crypto-friendly legislation. Additionally, market sentiment was lifted by macro liquidity shifts following intervention in the domestic debt market.

The U.S. Treasury Department moved to contain rising borrowing costs by expanding its long-end bond buyback program from $2 billion to $4 billion per operation. Treasury Secretary Scott Bessent noted that the administration would also heighten its focus on fiscal consolidation in the coming days. The increased bond repurchases aimed to stabilize shaky fixed-income markets, which subsequently helped depress the U.S. dollar and fuel an appetite for riskier assets like commodities and digital currencies.

The tech-focused Nasdaq managed a daily gain on Friday due to strength in software and mega-cap internet names, despite a continued slump in chipmakers. The iShares Semiconductor ETF dropped 0.7% to finish the session, reflecting a broader weekly pullback as the artificial intelligence investment thesis hit friction. Industry giant Nvidia served as a primary laggard on Friday, dropping 0.4% while other technology giants flatlined or advanced.