Bitcoin Surges Past $75K as Trump Calls for Crypto Regulation
Bitcoin (BTC) surged past $75K for the first time since late May on Thursday, marking an 8% daily gain. The leading cryptocurrency climbed above its 200-day moving average for the first time since November 2025 and is now positioned for its strongest weekly showing in over two years.
The upward momentum was attributed to several factors, including President Trump's call for Congress to pass the Clarity Act, a comprehensive crypto regulation bill. The legislation aims to create definitive guidelines for the cryptocurrency sector in America and has been met with obstacles due to debates surrounding classification methods and stablecoin yields.
The U.S. Treasury Department also contributed to the rally by announcing plans to at least double government bond repurchase operations, which will begin on September 9. This initiative is expected to enhance liquidity in long-dated Treasury securities and contribute to declining yields, making riskier assets more attractive to investors.
Cryptocurrency traders and analysts are cautiously optimistic about the prospects for further growth, with some predicting that Bitcoin could reach $100K before year-end. However, market experts warn that the crypto market is known for its volatility and caution against getting too excited about price targets.