Bitcoin moved back above $70,000, reaching its strongest level in more than two months as falling U.S. Treasury yields, renewed institutional demand and improving regulatory sentiment brought buyers back into the cryptocurrency market.
The world’s largest cryptocurrency climbed above $72,000 during Thursday’s rally, extending gains from the previous session. Other major digital assets, including Ether, XRP and Solana, also moved higher as risk appetite improved.
A major catalyst came from the U.S. Treasury’s decision to expand purchases of longer-dated government debt. The announcement helped push Treasury yields lower, improving the appeal of higher-risk assets such as cryptocurrencies. Bitcoin moved above $70,000 for the first time since June.
Institutional demand returns
Investor demand through U.S. spot Bitcoin exchange-traded funds also strengthened significantly.
Spot Bitcoin ETFs recorded approximately $517 million in net inflows on August 19, their largest single-day intake since early May. BlackRock’s IBIT accounted for roughly $285 million of that total.
The sharp rally also triggered heavy losses for traders betting on falling crypto prices, adding further momentum as short positions were forced to close.
Regulatory developments in Washington provided another boost. President Donald Trump has renewed calls for lawmakers to advance the Clarity Act, which seeks to establish clearer rules for digital assets in the United States. Crypto-related stocks also rallied alongside Bitcoin following the developments.
Despite the rebound, Bitcoin remains well below its late-2025 record highs, and traders continue to watch U.S. interest rates, ETF flows and regulatory developments for clues about whether the recovery can continue.
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