Cryptocurrency market gains momentum, Bitcoin crosses $70,000

Bitcoin posted a strong gain on Thursday, climbing 22.9% over the last 7 days and crossing the $70,000 level for the first time in more than two months. The rise was supported by falling U.S. Treasury yields and renewed optimism over regulatory developments in the cryptocurrency market in the United States.

The world’s largest cryptocurrency reached around $71,700, its highest level since June 1, continuing the positive trend that began a day earlier.

Bitcoin’s market capitalization rose by about 11.1% over 24 hours, reaching $1.43 trillion. Meanwhile, daily trading volume jumped more than 260%, to around $60.8 billion.

The rally extended to the rest of the cryptocurrency market. The sector’s overall market capitalization expanded by 10.23%, to $2.42 trillion. Ethereum, the second-largest cryptocurrency by market value, posted an even stronger gain of 18.6%, reaching around $2,270.

Bitcoin had on Wednesday recorded its biggest daily gain since March, ahead of U.S. President Donald Trump’s meeting with executives of some of the largest companies in the cryptocurrency industry, including Coinbase, Payward – the operator of the Kraken platform – and Blockchain.com.

The meeting raised expectations for further progress on the so-called “Clarity Act,” a bill that aims to more clearly define the market structure and regulatory framework for digital assets in the United States.

The bill failed to come to a vote in the Senate before the start of the August recess, but investors remain optimistic that discussions could resume once lawmakers return.

Two secure platforms where you can make your investments in cryptocurrencies are Binance and cex.io. These two platforms also accept payments from Albania, Kosovo, and North Macedonia. /albeu.com/