Bitcoin Leaps Past $75,000 as Crypto Rally Continues in Asia

• BTC-USD
• COIN
• KRAK.PVT

(Bloomberg) — Bitcoin rose by more than 4% in early Asia trading Friday, continuing a tear that began Wednesday after the US Treasury revealed plans to rein in long-term bond yields.

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The original cryptocurrency climbed as high as $75,740 as of 10 a.m. in Singapore. The market exuberance builds on gains over the past two days after Treasury Secretary Scott Bessent announced the department would double the size of its bond buybacks. Bitcoin is now up almost 20% this week.

Optimism around crypto was also bolstered when President Donald Trump met with industry leaders, including executives from Coinbase Global Inc. and Payward Inc. Trump urged the Senate to pass the Clarity Act, a crypto market structure bill that has stalled over a fight regarding ethics provisions.

“This price reaction isn’t about the US Clarity Act, which many in the market are pointing to,” Matthew Sigel, head of digital assets research at VanEck, said in a note. “This is about what the US Treasury has done, which is reigniting fears of fiscal dominance.”

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Source: finance.yahoo.com