Bitcoin hovers near $77,000 after weekly surge as traders assess risks

Bitcoin traded around $77,000, with one observation at $76,996.84 on Binance’s USDT market, down approximately 2.3% over 24 hours, and a later Asian morning reading just above $77,100. Despite the short-term weakness and increased trading volume, Bitcoin remained up more than 21% over the week. Traders are monitoring support near $75,000 and potentially $72,000, with resistance at $78,500 and $80,000. Profit-taking, macroeconomic uncertainty, high oil prices, elevated long-term yields and weaker broader-asset sentiment have contributed to caution, while neutral RSI readings and flattening moving averages suggest the recent uptrend may be losing momentum. Investors are also awaiting Federal Reserve Chair Kevin Warsh’s first Jackson Hole address for clues on interest rates. XRP led the highlighted crypto assets with a weekly gain exceeding 46%, followed by Hyperliquid’s HYPE above 35%, Dogecoin at 30%, Ether near 28%, Solana at 24% and BNB at 15%. Asian equities declined, while Nvidia’s earnings and outlook are expected to help gauge demand for chips used in artificial-intelligence projects.

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