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BTCUSD rallies more than 20% and hits highest in four months
The move extends a third straight day of gains, with BTCUSD near levels last seen in mid-May.
BTCUSD surged for a third consecutive day, rising more than 20% over the period and pushing the pair to its highest level in nearly four months, according to Action Forex.
The rally comes after BTCUSD last traded at similar levels in mid-May, and the article notes it is on track for what would be its biggest weekly gain since the first week of December 2017.
Action Forex attributes the advance largely to support measures for long duration US Treasury bonds, citing remarks from US officials that suggest the policy may continue.
The report frames the Treasury-related backdrop as the primary driver behind the latest bitcoin strength as the market heads toward its largest weekly rise in years.
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