Bitcoin Roars Past $70,000 as Yields Sink, Trump Sparks Optimism
The rally followed lower Treasury yields, $3 billion in short liquidations and renewed optimism after Trump met crypto executives, traders said.
- On Wednesday, Bitcoin touched $70,000 for the first time since June, propelled by Treasury Secretary Scott Bessent's bond buyback operations and a meeting between President Donald Trump and crypto executives.
- The rally marks a shift for a market searching for a bottom since October, when Bitcoin peaked above $126,000 before a sharp selloff that continued through this year.
- Institutional demand surged, with large holders adding roughly $2.75 billion in 60 days and US-listed spot ETFs recording significant inflows from Monday to Wednesday.
- President Trump urged Congress to pass the Digital Asset Market Clarity Act, telling executives the body needs to "take the next step" and pass a fair version of the legislation.
- Separately, the World Health Organization announced Thursday that Congo will receive 70,000 Ervebo vaccine doses to combat an Ebola outbreak that has killed 2,476 people out of 5,208 confirmed cases.
39 Articles
39 Articles
Bitcoin rallies past $70,000 as falling US yields, Trump's crypto meeting boost optimism
Bitcoin crossed $70,000 for the first time in over two months, driven by falling US Treasury yields, Trump’s meeting with crypto executives and strong ETF inflows. Ether, Solana and XRP also gained, while short-position liquidations surged.
The positive moods returned to the cryptors after Trump's meeting with the leaders of the Krypto-companies.
Bitcoin Roars Past $70,000 as Yields Sink, Trump Sparks Optimism
Bitcoin surpassed $70,000 for the first time in over two months, propelled by US Treasury Secretary Scott Bessent’s successful move to push US bond yields lower and a high-stakes meeting President Donald Trump held with crypto industry leaders.
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