Bitcoin Surges Past $75000 as Trump Regulatory Push and Treasury Buybacks Fuel Crypto Rally

Bitcoin climbed above $75,000 on Friday, extending a nearly 22% advance over five straight sessions and pushing prices to levels last seen in late May. The rally was catalyzed by two developments: President Trump's call for Congress to pass the Clarity Act, which would establish clear cryptocurrency regulations, and the U.S. Treasury Department's decision to double its bond buyback program, which lifted broader risk appetite.

Trump's comments, made during a White House meeting with industry leaders, included a suggestion that the U.S. may purchase sizable amounts of bitcoin, giving the rally a second leg after bitcoin had already broken above $70,000 for the first time since early June. Separately, the CFTC chief signaled staff would develop crypto rules if the Clarity Act fails. Short liquidations exceeded $3 billion over 24 hours against roughly $263 million on the long side, the largest such squeeze in recent months, while bitcoin daily trading volume surged 250% to $59 billion.

Strategy, the largest corporate bitcoin holder, swung to an unrealized gain of approximately $1.4 billion, or 2.4%, on its holdings as the price crossed back above its average cost basis. Strategy's stock rose around 10% in Friday pre-market trading, hitting its highest level in two months, while Coinbase gained roughly 11% and MARA Holdings surged more than 15%. Bitmine's Ethereum treasury, by contrast, remained deeply underwater despite ETH reclaiming $2,000 and posting a nearly 19% single-day gain.

Gold also rallied alongside bitcoin amid growing debasement concerns tied to the Treasury intervention. Analysts warn that bitcoin could retreat from current levels if the Clarity Act shows no legislative progress by around September 15.