Bitcoin continued its rise on Friday, having its best week since 2023 as over $1 billion in shortsellers’ positions got ruined and exchange-traded funds received billions in new cash. 

The leading cryptocurrency on Friday was recently trading 23% higher over a seven-day period after flying past $77,542. It earlier in the day reached as high as $79,319. 

Bitcoin’s rise comes after the American investors fast piled into exchange-traded funds, with the vehicles so far this week taking in over $1.6 billion, according to Farside Investors data. 

CNBC analysts said that the coin’s rise is its best performance since 2023 and was triggered by the Treasury Department’s Wednesday…

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