Bitcoin Breaks $65,000 as Trump Backs US Crypto Leadership

Bitcoin surged past $65,000 after President Donald Trump reaffirmed American leadership in the cryptocurrency sector. This move comes as the US lawmakers struggle to pass the CLARITY Act, which aims to regulate digital asset trading, but is delayed until at least September.

The price increase also follows weak US jobs data, which boosted risk assets and reinforced expectations that the Federal Reserve will keep interest rates steady.

Trump's support for the US cryptocurrency sector emphasizes the need to maintain American leadership against China in digital assets. This statement has contributed to Bitcoin testing the upper range of its recent trading band.