Bitcoin holds near $78,000 after 24% weekly surge driven by Treasury buyback news

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Bitcoin traded relatively flat on Monday, hovering near the $78,000 mark after a significant rally the previous week. The cryptocurrency surged approximately 24% last week, marking its strongest weekly performance in three years. The rally was largely triggered by a Treasury buyback announcement, which caused a short squeeze that liquidated over $3 billion in short positions. Meanwhile, gold continued to climb and altcoins entered a consolidation phase following the broader market's strong weekly gains.

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