Bitcoin extended its rebound on Thursday, briefly touching $75,591.6 and settling at $74,772.6 by 23:48 ET, an 8.1% intraday gain that pushed the cryptocurrency above its six-month trading range of $60,000 to $70,000.
The move marked a near-19% weekly advance, the largest since February 2024, as optimism over U.S. regulatory clarity gathered pace. President Donald Trump called for lawmakers to advance the Clarity Act during a White House summit, a proposed bill aimed at establishing a formal regulatory framework for the domestic crypto industry. Progress in Congress remains uncertain due to disputes over the classification of cryptocurrencies and stablecoin yield treatments, but the remarks fueled risk appetite across digital assets.
Broader market sentiment was also supported by the U.S. Treasury Department’s announcement that it would double its bond buybacks to counter rising yields, a move that typically benefits risk assets. Bitcoin’s breakout coincided with gains across crypto-linked equities, with MicroStrategy surging 7.8% and Coinbase adding 7.9% on Thursday.
Mining stocks led the sector higher, with Marathon Digital up 15.5% and Riot Platforms gaining 8.3%. Stablecoin issuer Circle Internet Group rose 6.5%, while exchange Bullish climbed 5.7%. In Asia, Metaplanet, the Japanese company that holds over 40,000 bitcoins as corporate treasury, jumped more than 20% during the Friday session.
U.S.-listed spot bitcoin ETFs recorded inflows of approximately $1 billion for the week, the largest weekly total since January, according to data from SoSoValue. The inflows underscore renewed institutional interest following the regulatory optimism and broader market rebound.
