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Bitcoin Price Caps Best Week in 20 Months With 23% Gain
Bitcoin ended the week trading just below $23,500.
By Zack Voell
Updated Mar 6, 2023, 3:27 p.m. Published Dec 21, 2020, 12:13 a.m.
Bitcoin has gained 23% since Monday, ending the week trading just below $23,500 with its best weekly performance since April 2019, measured by percentage increase.
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- Throughout its monster weekly rally, bitcoin's price set new record highs in four of the past five days, reaching the current record high of $24,273 Sunday afternoon, per CoinDesk's Bitcoin Price Index (BPI).
- Only nine other times in the past five years has bitcoin seen a weekly gain larger than the one posted this week.
- As the new trading week starts, CME bitcoin futures opened at $23,600, just over 3% higher than their close on Friday.
- Strong weekend buying pressure has caused CME bitcoin futures to open Sunday trading at higher prices than the previous Friday's close for 10 of the past 12 weeks, per TradingView market data.
- Bitcoin's strong weekly performance coincides with the latest flurry of institutional investor activity in bitcoin.
- Christopher Wood, global head of equity strategy at investment firm Jefferies, is said to have trimmed 5% of his gold exposure and allocated it to bitcoin. Scott Minerd, chief investment officer at Guggenheim Partners, told Bloomberg his firm's analysis shows bitcoin should be worth $400,000. Goldman Sachs was also reportedly picked Friday to lead the Coinbase public offering.
- Year to date, the bellwether cryptocurrency has gained 226%, per Messari data.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin trades near key price safety net that Strategy already breached
The safety net is the 100-week average, which has stalled the downtrend.
What to know:
- Bitcoin trades near a critical 100-week simple moving average, a key support level for bulls.
- Strategy shares have already fallen below this average, signaling potential bearish trends for bitcoin.
- Bulls must defend this support to prevent further declines similar to Strategy's recent losses.
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