Bitcoin reclaimed the $75,000 level following an 8% daily surge, reaching an intraday peak of $75,591 before stabilizing near $75,400. The movement marks the cryptocurrency's strongest seven-day run since February 2024, with weekly gains reaching 19% and lifting BTC out of the $60,000 to $70,000 trading corridor that persisted through much of 2026.
The broader digital asset market participated in the rally. Ethereum rose 4.8% to roughly $2,376, accumulating a 25% weekly gain, while XRP climbed 16% to $1.29, bringing its weekly increase to 28%.
Regulatory and Economic Catalysts
Market momentum was supported by multiple developments across political and financial sectors. During a White House crypto summit, President Donald Trump urged lawmakers to advance the Clarity Act to establish comprehensive regulatory guidelines for the U.S. cryptocurrency sector. Legislative progress on the bill has previously faced delays due to debates over crypto classification methods and stablecoin yield provisions.
Additionally, the U.S. Treasury Department announced plans to at least double its government bond repurchase operations, raising maximum buyback amounts from $2 billion to a minimum of $4 billion starting September 9. The initiative aims to enhance liquidity in long-dated Treasury securities and contributed to declining yields, supporting investor appetite for riskier assets. Bitcoin appreciated over 13% following the Treasury announcement.
Technical Milestones
Technical indicators also shifted during the breakout. Bitcoin climbed above its 200-day moving average for the first time since November 2025. Market analyst James Check noted that sellers appeared to have exhausted their pressure following extended downward trends, while trader Daan Crypto Trades observed the asset testing critical weekly levels including the bull market support band and weekly 200 EMA.
