Bitcoin pushed its weekly gain into the 20th% range, recovering to $77,000 and the 100th million won level. Favorable developments from the U.S. regarding interest rates and policy helped propel the virtual asset market. Amid rising expectations, market attention is focused on whether this sharp rebound will continue.
As of 7 p.m. (Korean time) on the day, global virtual asset market platform CoinMarketCap reported Bitcoin's price at $77,814, a 24.11% increase from Jeonju. The domestic trading price on Upbit was recorded at 100 million 772 won, forming 0.57% lower than Binance.
Ethereum was reported at $2,399, up 28.20%. The CoinMarketCap "Fear and Greed" index, which approaches zero as the likelihood of a sell-off increases, reached 73 points out of 100, surging by 37 points from Jeonju and entering the "Greed" phase.
Major virtual assets like Bitcoin, which had been trading sideways at the start of the week, surged sharply on the night of the 19th. This coincided with the U.S. Treasury Department announcing it would more than double its long-term bond buyback (repurchase) program. Virtual assets are classified as asset classes that react sensitively to liquidity trends driven by interest rate fluctuations.
On the same day, remarks by President Donald Trump urging passage of the CLARITY Act further fueled the market. At an event where he invited executives from virtual asset companies to the White House, President Trump emphasized it as "very strong legislation that will allow the U.S. to stay ahead of competitor nations like China."
While the New York stock market, which rose in tandem, gave back its gains, the virtual asset market continued its rebound. A key factor identified was the liquidation of large short (bearish) positions. According to CoinGlass, cumulative liquidations from 19 to 20 Eastern Time exceeded $3.1 billion.
In a report issued on the day, Yoon Tae Securities researcher Lee Hwan-wook stated, "While short liquidations continued for two days and further boosted prices, the intensity of liquidations has decreased, easing overheating." However, he added, "With futures basis expanding and unrealized net profit (NUPL) entering an optimistic phase, clear signs of overheating in futures and sentiment suggest room for pullbacks and corrections following the sharp short-term surge."
Altcoins also staged a sharp rebound. As of 9 a.m. on the day, within the top 100 by market capitalization, Ethena, Pump.fun, Hyperliquid, XRP (formerly Ripple), Monad, SPX6900, Arbitrum, Sky Protocol, and EtherFi all posted weekly returns exceeding 20%.
Zanggle researcher Kim Jun-seong said, "Along with the rebound of major assets, demand has spread to projects where fundamentals such as actual revenue and inflows from institutional investors have become prominent." He further noted, "In particular, policy expectations rose after CFTC mentioned it is pushing for Hyperliquid's legal entry into the U.S. market."
The researcher added, "It is necessary to confirm whether policy momentum continues despite interest rate volatility," and stated, "A strategy of selectively focusing on projects where actual returns and policy support are both confirmed remains effective."
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