Bitcoin Surges Past $77k as US Treasury's Bond-Buying Effort Boosts Risk Appetite

Global stocks rebounded on Friday as investors assessed the US Treasury's efforts to push down long-term borrowing costs.

The surprise move to buy back more of its own bonds increased liquidity and added to investors' risk appetite, with Bitcoin climbing over six percent to $77,188, its highest level since May.

'The turmoil in the debt markets continues despite efforts to calm feverish borrowing costs,' said Susannah Streeter, chief investment strategist at Wealth Club.

While some analysts remained cautious, citing inflation risks and growing government borrowing, others saw the Treasury's move as a positive sign for the market.