Trump's Crypto Call Boosts Bitcoin and Stocks Amid Treasury Intervention

Crypto-related stocks surged on Thursday after U.S. President Donald Trump urged Congress to pass legislation establishing clear rules for digital assets, according to Reuters.

The Treasury Department's decision to double buyback sizes for long-duration debt came after a major bond selloff pushed the 30-year Treasury yield to its highest level since 2007.

BTC was last up 3.48% at $71,505, having crossed the $70,000 mark for the first time since June, while Ether gained 2.46% and was last trading at $2,272, its highest level in over three months.

Coinbase Global gained 6.05%, and Bitcoin bull Strategy rose 4%, while Canaan surged 10.37% and stablecoin issuer Circle gained 3.8%.