Bitcoin Surges Past $75,000 Amid US Policy Shifts and Regulatory Optimism

Bitcoin surged by more than 4 per cent during early Asia trading, extending a powerful rally that kicked off on Wednesday following the US Treasury's announcement regarding plans to rein in long-term bond yields, alongside US President Donald Trump advocating for crypto legislation.

Bitcoin reached a peak of $75,740 before paring some of those gains to trade at $74,806.41 at 8.30am UAE time. According to Coinbase data, the pioneer cryptocurrency has jumped nearly 8 per cent over the past 24 hours.

Market enthusiasm for Bitcoin has built up momentum ever since US Treasury Secretary Scott Bessent announced that the department would double the size of its bond buybacks. Overall, Bitcoin has risen by nearly 20 per cent for the week.

Cryptocurrency optimism also received a boost when Mr Trump met with industry executives, including leaders from Coinbase Global and Payward. Mr Trump called on the Senate to pass the Clarity Act, a stalled crypto market structure bill delayed by disputes over ethics provisions.

As a vocal proponent of digital assets, the president campaigned on a promise to make the US the “crypto capital of the world” and has maintained personal involvement in crypto ventures. On Wednesday, Mr Trump urged lawmakers to pass a “fair version of the Clarity Act”.

Ryan Lee, chief analyst at Bitget Research, noted that the impact of this political momentum extends far beyond immediate price movements. He explained that the US administration's push for a clearer policy framework could serve as a model for emerging markets seeking to regulate their own digital asset sectors.

In the coming weeks, Mr Lee noted the market will remain in a "wait-and-watch mode" to determine whether political will translates into legislative action. He warned that any ongoing ambiguity or political impasse could increase market volatility.

Conversely, Matthew Sigel, head of digital assets research at VanEck, argued that Bitcoin's recent price reaction stems from actions taken by the US Treasury rather than the US Clarity Act, suggesting the move has reignited concerns surrounding fiscal dominance.