Bitcoin Surges to $79,746 on Deregulation Hopes and Bond Buybacks

Bitcoin is on the cusp of breaking through the $80,000 milestone, sending South Korean cryptocurrency-related stocks into overdrive. The market surge can be attributed to investor sentiment recovering rapidly as expectations for Trump-era deregulation of digital assets converge with the U.S. Treasury Department's bond buyback policy.

According to the Korea Exchange, Bitplanet was trading at 2,380 won (approximately $1.7), up 15.81% (340 won) from the previous session. Other stocks such as Woori Technology Investment, Parathesis Ethereum, Bitmax, and Galaxia MoneyTree also posted gains.

The core driver behind this rally is expectations for shifts in U.S. monetary and fiscal policy. The U.S. Treasury Department recently announced it would expand bond purchases in response to surging Treasury yields, fueling expectations that more dollars will flow into the market and pushing the dollar lower.