Bitcoin celebrates a historic record: the digital currency in an unprecedented surge
The Bitcoin currency showed a significant jump of 4% to a value of more than 71 thousand dollars. Experts estimate that investors should prepare themselves for a move toward 100 thousand dollars by the end of the year.
Bitcoin showed a significant jump today, Thursday. The digital currency surged by 4% to a value of more than 71 thousand dollars — a record for almost three months. The sharp rise comes after US President Donald Trump called on Congress to pass legislation expected to support the crypto sector and hinted at the regulation of Hyperliquid, a decentralized exchange for "perpetual futures" that is currently gaining momentum.
Also last night, the price of Bitcoin recorded a surprising figure for investors when it jumped within a short time by about 4,000 dollars and crossed the 69 thousand dollar mark, after previously trading in the 64-65 thousand dollar range. This is one of the sharpest rises for Bitcoin in the recent period, and it occurred in parallel with a significant move by the US Treasury Department in the bond market.
The main trigger that likely led to this was the announcement by the US Treasury Department that it intends to significantly increase the volume of buybacks of long-term government bonds. Starting in September, the volume of activity is expected to rise from at least 2 billion dollars to 4 billion dollars per operation. The move is perceived as an attempt to increase demand for long-term bonds and stabilize the market. Following the announcement, the yield on 30-year US bonds fell by almost 10 basis points, to about 5.19%.
In recent weeks, the value of Bitcoin was stuck between about 62 thousand dollars and 66 thousand dollars. Now, experts are looking ahead:
"Investors should prepare themselves for a move toward 100 thousand dollars by the end of the year," said Geoffrey Kendrick, global head of digital assets at Standard Chartered.
