Bitcoin Surges Past $78k on Regulatory Hopes

Bitcoin surpassed $78,000 on Monday, following hopes of favorable US regulation and easier financial conditions.

The world's largest cryptocurrency rose 1.6% to $78,759.1 by 09:38 ET (13:38 GMT), driven by a rebound in the market.

Broader crypto prices saw a mixed performance, with some assets rising while others fell. Bitcoin's rise was partly due to US President Donald Trump's call for policymakers to pass a fair version of the Clarity Act, which would establish a regulatory framework for the crypto industry.

The bill has stalled in Congress over disagreements on categorizing crypto as securities or commodities and treating yield payments on stablecoins.