Preheat oven to 400°F. Line a baking sheet with parchment paper.
Trim the woody ends from asparagus (bend each spear until it naturally snaps). Place trimmed asparagus on the prepared baking sheet.
Drizzle asparagus with olive oil and use your hands to coat evenly. Arrange in a single layer and sprinkle with garlic powder.
Cut each bacon slice in half crosswise. Wrap one half-slice around each asparagus spear in a spiral pattern. Place seam-side down on the baking sheet, making sure wrapped spears don't touch.
Bake for 10 minutes. Using tongs, flip each spear over.
Bake for another 10 minutes. Check the bacon. If it's not crispy enough, bake for an additional 5 minutes, watching carefully to prevent burning the asparagus tips.
Transfer to a paper towel-lined plate to drain excess grease. Serve warm.
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Notes
Serving size will vary depending on asparagus thickness. One pound of asparagus typically yields 20-24 medium spears. Thicker spears mean fewer per pound but more substantial servings.