Bitcoin Hits Record Highs Amid White House Pro-Crypto Sentiment
Bitcoin's price surged to $72,850 on Thursday afternoon as it continued its upward momentum. The cryptocurrency broke through resistance at $72,000 earlier in the day and maintained buying pressure near the threshold.
The surge lifted Bitcoin's market capitalization from $1.44 trillion to $1.45 trillion, with a 24-hour gain of 5.6%. Since Monday, August 17th, when it traded around $63,500, bitcoin has added approximately $9,000 to its value, a 14% gain in just four days.
The increase narrowed Bitcoin's year-to-date losses to 17.4%, slightly improving its odds of closing the year with net gains. Market strategists point to expanding liquidity expectations as a primary engine behind bitcoin's sustained momentum, fueled by rhetoric from U.S. Treasury Secretary Scott Bessent hinting at debt-management interventions larger than the $4 billion buyback program unveiled August 19th.