Bitcoin traded near $74,725, up 6.6% over the past 24 hours and up a sharp 17.2% for the week, briefly touching $73,000 intraday. Ethereum climbed to $2,350, up 3.4% on the day and 24.2% for the week. XRP surged 16.0% to $1.32, up 27.6% weekly, while Solana rose 4.6% to $89.30, up 17.4% for the week. BNB gained 5.2% to $661.83.
Total crypto market capitalization stood at $2.61 trillion, up 6.7% over the past day, with 24-hour trading volume reaching $136.81 billion.
Bullballs Coin dominated trending searches with a staggering 1,930.5% surge, also topping the gainers list, while Aligned dropped 44.7% and pipedog also fell 3.9%. Ontology Gas jumped 179.9% and Niu Lai gained 160.0%, reflecting intense speculative activity riding the broader market rally.
Treasury Secretary Scott Bessent said the government’s per-operation buyback cap could exceed the already-announced $4 billion, adding that the US can “grow its way out” of its debt burden. Macro strategist Mark Connors said the buyback program could ultimately reach $10-30 billion per month and raised his Bitcoin target range to 180,000-360,000, no longer requiring a wait until November for the rally to build.
Charles Schwab’s Jim Ferraioli flagged a large concentration of leveraged shorts near $72,000, warning a break above that level could trigger a short squeeze, which appears to have materialized as Bitcoin pushed toward $74,725.
Bitcoin’s 50-day moving average, near $63,976, is closing in on its 200-day moving average around $69,005, a formation historically viewed as a long-term bullish signal when confirmed. Bitcoin had traded below its 200-day average since October 2025, when it sat near $110,000.
Historical golden crosses in February 2023, October 2023, October 2024, and April 2025 were each followed by further gains, though analysts cautioned the current move could still prove a technical rebound rather than confirmation of a new bull cycle.
Anthropic is reportedly in talks to bring Citigroup into its underwriting group alongside Morgan Stanley, Goldman Sachs, and JPMorgan. Separately, Broadcom is reportedly seeking more than $60 billion in debt financing, potentially reaching $100 billion in total, to help fund AI compute access for companies including Anthropic.
BitMine’s unrealized ETH loss similarly narrowed to $5.88 billion from $8.51 billion. SharpLink staked another $91 million in ETH, while a Matrixport-linked whale’s combined ETH and BTC positions flipped from a $92.5 million unrealized loss to an $11.5 million gain after four months underwater.
ICE, parent of the NYSE, said it remains open to further investment in Polymarket after already committing more than $1.6 billion. Grayscale published research suggesting Zcash’s privacy features could see a 9x valuation increase if its share of the “currency” crypto category rises to 5%.
Cybersecurity researchers found nearly 2,000 hacked WordPress sites used to steal crypto wallet credentials and deploy ransomware, compromising more than 6,000 unique IP addresses since mid-May. GalaChain paused its Ethereum and Solana bridges after a $2.9 million exploit, with 82% of stolen funds traced to a wallet linked to the company’s CEO.
