Bitcoin climbed on Friday, extending its recovery to levels last seen in late May after U.S. President Donald Trump urged policymakers to establish clear cryptocurrency regulations.
The broader crypto market also benefited from improved risk sentiment after the U.S. Treasury Department announced plans to double its bond buybacks in an effort to contain a surge in yields.
The world’s largest cryptocurrency jumped 6.33 percent to $77,630 by 9:18 GMT.
Bitcoin set for 19 percent weekly gain
It remains uncertain whether Bitcoin could sustain its gains, with markets still cautious about the U.S.-Iran conflict after Trump threatened economic warfare against Tehran.
Treasury yields also rebounded from their lows earlier in the week as concerns mounted over rising U.S. debt levels. Bitcoin was on track for a weekly gain of nearly 19 percent, marking its strongest weekly performance since February 2024.
The rally also pushed the cryptocurrency out of a $60,000-$70,000 trading range that had held for much of 2026.
Trump calls on Congress to pass the Clarity Act
The crypto rally was driven largely by Trump’s call earlier this week for Congress to pass the Clarity Act during a White House summit. The closely watched legislation seeks to create a regulatory framework for the U.S. cryptocurrency industry.
Still, the timing of the bill’s passage remained uncertain. The Clarity Act has faced delays in Congress amid ongoing disagreements over the classification of cryptocurrencies and the treatment of stablecoin yields.
Despite its latest gains, Bitcoin remained down around 15 percent for 2026 after falling more than 50 percent from its record high reached in October.
Read: Bitcoin jumps above $71,000 as Trump urges Congress to approve key crypto regulation
U.S.-listed spot Bitcoin ETFs attract $1 billion inflows this week
Crypto-related stocks also climbed, tracking Bitcoin’s sharp rebound. Strategy Inc, the largest corporate Bitcoin holder, jumped 7.81 percent on Friday, while stablecoin issuer Circle Internet Group gained 6.45 percent.
Crypto exchanges also advanced, with Bullish Inc rising 5.7 percent and Coinbase Global Inc gaining 7.9 percent. Bitcoin miners posted even stronger gains, as Mara Holdings surged 15.5 percent and Riot Platforms climbed 8.3 percent.
The rally extended into Asian trading on Friday, with Japanese hotel operator-turned-Bitcoin treasury firm Metaplanet Inc jumping more than 20 percent. The company holds more than 40,000 Bitcoin.
Improved sentiment around Bitcoin also drove strong demand for U.S.-listed spot Bitcoin exchange-traded funds, which attracted roughly $1 billion in inflows this week, marking their strongest weekly inflows since January, according to data from SoSoValue.
Broader cryptocurrency prices also moved higher, extending their recovery alongside Bitcoin.
Ether, the world’s second-largest cryptocurrency, rose 4.2 percent to $2,357.69, while XRP posted stronger gains, climbing nearly 18 percent to $1.3065.
Solana advanced 5 percent, Cardano jumped 13 percent, and BNB gained 5.5 percent.
Among memecoins, Dogecoin was one of the strongest performers, surging 10.8 percent, while the $TRUMP token rose nearly 3 percent.
