Bitcoin climbed back above $75,000, reaching its highest level since April following a 20% gain over a four-day period. The latest market movement coincided with U.S. President Donald Trump urging Congress to pass legislation that could support the cryptocurrency industry.
Additional factors contributed to the market activity, including a decline in Treasury yields. Trading volume for the iShares Bitcoin Trust ETF (IBIT) exceeded 4.5 times its 30-day average prior to additional news regarding the decentralized exchange Hyperliquid. Meanwhile, Bitcoin volatility increased, with Volmex Labs' BVIV Index rising above 40 after hitting a year-to-date low of 35.5.
Despite the recent rally, Bitcoin remains down 18% for the year 2026 and sits 43% below its all-time high achieved in October. Market participants continue to focus on the proposed Clarity Act, which aims to establish guidelines for when a cryptocurrency is classified as a security or a commodity. Passing the legislation faces hurdles, as several Democrats and some Republicans demand stricter language to prevent political officials, including Trump, from profiting from their own crypto ventures.
Other digital assets and crypto-related equities also saw upward movement. Ether rose 2.46% to $2,272, marking its highest price in over three months. Crypto-linked equities posted gains as well, with Coinbase Global rising 6.05% and Strategy increasing by 4%.
Additional industry stocks experienced positive trading sessions. Bitcoin mining manufacturer Canaan jumped 10.37%, stablecoin issuer Circle rose 3.8%, and retail trading platform Robinhood added 0.42%.
