Bitcoin Surges Past $72,000 as South Korean Crypto Stocks Soar

Crypto-related stocks surged across South Korea's stock market as Bitcoin staged a recovery. According to the Korea Exchange, Woori Technology Investment (041190) was trading at 5,780 won as of 9:40 a.m., up 845 won, or 17.12%, from the previous session. The stock jumped more than 20% at one point during the session, reaching 5,960 won.

The rebound in Bitcoin prices is attributed to hopes for eased U.S. crypto regulation and a large short squeeze that widened Bitcoin's price gains. On the 19th, President Donald Trump met with cryptocurrency industry executives and pressed for swift passage of the CLARITY Act, which would clarify the regulatory framework for the crypto market.

The stock price of Bitmax rose 16.24% to 1,890 won, while Paradaxis Ethereum gained 14.12% to 1,196 won. Stocks tied to the Bithumb exchange also rallied, with Danal (064260) up 12.18%, and T-Scientific (057680) rising 8.04%. The price of Bitcoin touched $72,812 on the 20th local time, up about 6.2% from 24 hours earlier.