Bitcoin Surges Past $75k as Trump Spurs Regulatory Hopes
Bitcoin prices surged past $75k on Friday, marking its highest level in weeks following U.S. President Donald Trump's call for clear regulation of cryptocurrencies.
The move was also driven by a broader increase in risk appetite after the U.S. Treasury Department announced it would double its bond buybacks to curb rising yields.
Bitcoin rose 8.4% to $77,690.6, briefly touching an intraday high of $79,600.6, and is on track for its best week in over two years with a gain of around 23% this week.
Ran Hammer, Chief Business Officer of Orbs, attributed the rally to falling yields and Trump's push for the Clarity Act, which would establish a regulatory framework for the U.S. crypto industry.
He noted that institutions are waiting for clear rules before investing in cryptocurrencies, saying 'that's what will bring the real money in.'