Bitcoin rises to nearly $78,000 as Trump pushes for U.S. crypto regulatory reform

Bitcoin rebounded sharply on Friday, extending its rally to its highest level since late May. Previously, U.S. President Donald Trump called on policymakers to pass clear cryptocurrency regulations as soon as possible.
At the same time, the U.S. Treasury Department announced that it would double the size of bond repurchases to curb the surge in yields. This move boosted the overall risk appetite of the market and brought additional support to Bitcoin and the entire crypto market.
As of 9:51 a.m. Eastern Time (21:51 Beijing time), Bitcoin, the world's largest cryptocurrency by market value, rose 8.4% to $77,690.6, hitting a high of $79,600.6 during the session.