Bitcoin seeks support near $77K as BTC, gold near 100-day highs

Bitcoin (BTC) consolidated above $77,000 after Friday’s Wall Street open as gold joined the crypto rally to hit 14-week highs.Key points:Bitcoin and gold both hit their highest levels since May 15 against the US dollar.Analysis ties the strong performance firmly to US government debt policy.Polymarket odds of Bitcoin reaching $90,000 before 2027 reach 48%.Analysis: Bitcoin and gold gains not “surprise”Data from TradingView showed BTC/USD cooling after reaching its highest levels since May 15, still up nearly 6% on the day.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewGold echoed the move, reaching multi-month highs of $4,632 per ounce, up 2.2% on the day at the time of writing. On a monthly basis, BTC/USD and XAU/USD were up 13% and 16%, respectively.BTC/USD vs. XAU/USD one-day chart. Source: Cointelegraph/TradingView“What’s happening now in gold and crypto should not come as a surprise,” market commentary The Kobeissi Letter wrote in a response on X.Kobeissi attributed the rapid gains in precious metals and crypto to a combination of inflation, deficit spending and US Treasury policy. Record government deficit spending and the Treasury Department’s pledge to at least do...