Crypto stocks and major digital assets surged Thursday following key Treasury actions and legislative backing from President Donald Trump.
- Prices Jump: Bitcoin topped $70,000 for the first time since June to hit $71,505 (+3.5%), while Ether rose to a three-month high of $2,272 (+2.5%).
- Treasury Eases Yields: Doubling long-duration bond buybacks offered brief relief to the bond market, triggering short-covering and boosting risk assets.
- White House Push: President Trump publicly urged Congress to pass the stalled Clarity Act to establish clear SEC vs. CFTC jurisdiction over digital assets.
- Equities Rally: Crypto-linked stocks soared, led by Canaan (+10%), Coinbase (+6%), and Strategy (+4%).
Source: Reuters
