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Bitcoin tests $75,000 amid US optimism
Сryptocurrency
Bitcoin rose on Friday, extending its recovery to levels last seen in late May after US President Donald Trump called on lawmakers to enact clear regulations for cryptocurrencies.
Bitcoin and the broader cryptocurrency market also received support from increased risk appetite after the US Treasury announced it would double its bond buyback program to curb rising yields.
The world's largest cryptocurrency rose 8.1% to $74,772.6 by 6:48 AM Moscow time, briefly reaching an intraday high of $75,591.6.
Bitcoin on Track for Best Week in Over 2 Years
Bitcoin could end the week up nearly 19%, its best weekly performance since February 2024. It also broke out of the $60,000 to $70,000 trading range it had been in for most of 2026.
The rise in the cryptocurrency sector was primarily driven by Trump's call for Congress to pass the Clarity Act, a widely discussed bill aimed at creating a regulatory framework for the US crypto industry, at a White House summit earlier this week.
However, the timing of the legislation's passage remains uncertain. The Clarity Act has largely stalled in Congress due to ongoing disagreements over the classification of cryptocurrencies and the treatment of stablecoin yields.
Crypto Stocks Recover Following Bitcoin, ETF Inflows Improve
Crypto stocks also rose following Bitcoin's recovery. Bitcoin's largest corporate holder, Strategy Inc (NASDAQ:MSTR), gained 7.8% on Thursday, while stablecoin issuer Circle Internet Group Inc (NY:CRCL) rose 6.5%.
Bullish Inc (NY:BLSH) and Coinbase Global Inc (NASDAQ:COIN) gained 5.7% and 7.9%, respectively, while miners Mara Holdings (NASDAQ:MARA) and Riot Platforms (NASDAQ:RIOT) rose 15.5% and 8.3%, respectively.
The gains carried over into the Asian session on Friday. Metaplanet Inc (TYO:3350), a Japanese hotelier that has refocused on accumulating Bitcoin reserves, soared more than 20%. The company holds more than 40,000 coins. Improving sentiment around Bitcoin led US-listed spot ETFs to record inflows of nearly $1 billion in a week, the best weekly performance since January, according to data aggregator SoSoValue.