Bitcoin Surges Past $70 as Regulatory Optimism Boosts Crypto Market

Crypto market rallies as Bitcoin surges past $70 for the first time in over two months, fueled by falling US Treasury yields and renewed optimism about regulatory developments in the US. The world's largest cryptocurrency rose 22.9% in the past week to around $71.700.

The growth was driven by a rally in Bitcoin's market capitalization, which increased by 11.1% over the past 24 hours to reach $1.43 trillion. Daily trading volume also jumped by over 260%, to about $60.8 billion.

Ethereum, the second-largest cryptocurrency, recorded an even stronger increase of 18.6% to around $2,270. The rest of the crypto market's total capitalization expanded by 10.23% to $2.42 trillion.