Bitcoin surged 8%, approaching the $75,000 mark, as Trump boosted optimism about U.S. encryption regulations

On Friday, Bitcoin continued its rebound, with prices climbing to the highest level since late May. Previously, U.S. President Donald Trump called on policymakers to develop a clear regulatory framework for cryptocurrencies as soon as possible.

At the same time, the U.S. Treasury Department announced that it would double the size of bond buybacks to curb the surge in yields, a move that boosted overall risk appetite and benefited Bitcoin and the broader crypto market.

Bitcoin, the world's largest cryptocurrency, rose 8.1% to $74,772.6 at 23:48 US Eastern Time (11:48 Beijing time the next day), and once hit a high of $75,591.6 during the session.