Bitcoin leaps past $75,000 as crypto rally continues in Asia
2 min readBitcoin surged over 4% in early Asian trading on Friday, extending the rally that started Wednesday when the US Treasury announced measures to curb long‑term bond yields.
Key Takeaways
- Bitcoin surged over 4% to a peak of $75,740 in early Asian trading, extending gains since Wednesday.
- The rally followed the US Treasury’s announcement to double its bond-buyback program, plus renewed crypto optimism after Trump met industry leaders.
- Trump urged the Senate to pass the Clarity Act, a stalled crypto market-structure bill.
- VanEck’s Matthew Sigel said the rally reflects broader macro dynamics rather than the Clarity Act alone.
Bitcoin reached a peak of $75,740 at 10 a.m. Singapore time. The rally follows two‑day gains after Treasury Secretary Scott Bessent said the department will double its bond‑buyback program. The token is now nearly 20% higher for the week.
Crypto sentiment got another lift after President Donald Trump met with industry figures, including leaders from Coinbase Global Inc. and Payward Inc., urging the Senate to approve the Clarity Act—a crypto market‑structure bill that has been stalled due to disagreements over ethics provisions.
“This move isn’t driven by the US Clarity Act, which many market participants cite,” said Matthew Sigel, head of digital‑assets research at VanEck, in a note. “It reflects the Treasury’s actions, which are rekindling concerns about fiscal dominance.”
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Published on August 21, 2026
