Bitcoin rose 6.6% on Friday to $77,472.44, extending its rally for a third consecutive day as optimism over US cryptocurrency legislation and Treasury bond buybacks boosted demand for riskier assets.
The world’s largest cryptocurrency by market value reached its highest level since May. It has gained more than 20% since Wednesday and more than 5% during Friday’s trading.
The rally coincided with renewed investor expectations that US lawmakers could adopt a more favorable regulatory framework for digital assets.
Sentiment also improved after the US Treasury unexpectedly increased its repurchases of government bonds. The move supported liquidity expectations across financial markets and encouraged investors to increase exposure to assets considered more volatile.
Cryptocurrency prices remain highly sensitive to regulatory developments, monetary conditions and shifts in investor risk appetite.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.