Bitcoin climbed above $75,000 for the first time since late May, extending a crypto rally driven by falling Treasury yields, stronger trading activity and renewed optimism around US digital-asset regulation.
Bitcoin reached an intraday high near $75,727 on Friday and traded around $75,350, up roughly 8.65% over 24 hours. Ethereum advanced about 5.40% to around $2,370, while XRP led tokens with an 18.66% gain to $1.30.
The rally has spread beyond Bitcoin. On a weekly basis, Bitcoin is up about 19.05%, Ethereum has gained 25.74%, and XRP has risen 29.84%.
Bitcoin’s market capitalization stood near $1.51 trillion, while its share of the crypto market remained just above 53%, according to CoinGecko.
Trading volumes also increased. Bitcoin generated close to $59 billion in 24-hour volume, while Ether recorded approximately $33 billion, indicating that the rally has been accompanied by stronger participation.
‘Price pain capitulation in February,’ wrote Bitcoin analyst James Check. ‘Time pain capitulation in June. Bears in pain, right now.’
Policy developments have added another source of momentum. President Donald Trump met executives from Coinbase, Ripple, Robinhood, Kraken and ICE at the White House on August 19 and urged Congress to pass a ‘fair version’ of the CLARITY Act.
The legislation aims to clarify whether digital assets fall primarily under SEC or CFTC oversight. A procedural Senate vote is scheduled for September. Greater regulatory clarity could reduce one of the biggest uncertainties facing institutional crypto investors.
Macroeconomic conditions have also improved. The US Treasury said it would double bond buyback operations from $2 billion to at least $4 billion per transaction between September 9 and November 4.
The announcement helped push the 30-year Treasury yield from 5.337% toward 5.20%, lowering the appeal of bonds and improving conditions for risk assets.
Also Read: Why Altcoin Market Cap Can Rise Without Altcoins Rallying
Bitcoin’s move above $75,000 is being supported by policy expectations and lower yields. However, the rally remains vulnerable if Treasury yields rebound or the CLARITY Act loses momentum before September.