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Bitcoin, Ether and other cryptocurrencies soared after US President Donald Trump asked Congress to pass legislation that is expected to boost the sector.
Bitcoin It was last trading at $71,880, up about 5.2%. ether It rose more than 9% to trade at $2,288.91. Bitcoin remains well below its 2026 high of $94,820, reached in mid-January, and its all-time high of $126,198, set on October 6 of last year.
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President Trump also suggests regulation superfluiditya decentralized exchange that is gaining popularity among traders as the home of “perpetual futures” trading. of superfluidity According to CoinGecko data, the token has gained about 25% in the past 24 hours.
Lower U.S. Treasury yields also boosted trading in the iShares Bitcoin Trust ETF (IBIT), which was more than 4.5 times its 30-day average even before the HyperLiquid headlines. Bitcoin volatility, as measured by Volmex Labs’ BVIV index, rose to above 40 after hitting a year-to-date low of 35.5 on Friday.
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Yields fell sharply after the U.S. Treasury announced it would significantly increase the amount it buys back 20-year and 30-year bonds. This increases the attractiveness of high-risk assets like Bitcoin to investors, said Charlie Hayward, Asia-Pacific regional director at Rootstock Collective.
According to Max Studeline, Head of Partnerships at Signum APAC, Bitcoin’s movements reflect an alignment of macro and policy catalysts.
“The Treasury’s decision to double its long-term bond repurchases is aimed at addressing concerns about long-term yields, where borrowing costs are rising due to concerns about U.S. debt levels and partial crowding out from bond issuance by hyperscale companies,” he said.
Jeffrey Kendrick, global head of digital asset research at Standard Chartered, said the US Treasury’s announcement to scale backend support is “exactly the type of thing that Bitcoin likes.”
“Investors should now be poised to reach $100,000 by the end of 2026,” Kendrick added.
“The movement in cryptocurrencies over the past few days has been extremely large, causing the second-largest short-term liquidation in history,” said Thomas Lee, co-founder and head of research at Fundstrat, adding that this large move pushed Ether to a three-month high.
According to CoinGecko, Ether has risen about 19% over the past seven days to $2,251.
Bitcoin has been caught between support near $62,000 and resistance at $66,000 for the past six weeks, said David Morrison, senior market analyst at Trade Nation. “The lack of volatility, even after Bitcoin has effectively halved from its all-time high last October, has been quite frustrating for crypto traders.”
