Bitcoin Surges Above $77,000 as Treasury Bond Buybacks Spark Rally

The rally gained momentum following President Donald Trump’s public push for the Clarity Act. The proposed legislation, which had previously stalled, aims to accelerate cryptocurrency adoption, signaling a potential shift in the regulatory environment. This political catalyst coincided with a tactical move by the US Treasury to double its sovereign bond buybacks, an intervention designed to stabilize long-term borrowing costs after 30-year yields hit levels not seen since 2007.

As bond yields retreat, the traditional appeal of safer, fixed-income investments wanes, prompting investors to rotate capital into higher-risk assets. Bret Kenwell, an investment analyst at eToro, noted that the combination of Washington’s legislative optimism and the liquidation of short positions created a potent environment for the current price action. This marks the third consecutive day that Bitcoin has recorded gains exceeding five percent, reflecting a sharp reversal in market sentiment.