Bitcoin briefly surged past $72,000 early Thursday, hitting $71,873 at 11:27 UTC. The asset is up 11.5 percent in the last 24 hours, extending a rally that gained 15 percent since Monday.
Treasury Secretary Bessent announced a debt buyback program repurchasing older, higher-coupon bonds. The move injects liquidity into the broader financial system—a positive signal for risk assets like Bitcoin.
Simultaneously, President Trump advocated for passage of the CLARITY Act at a White House crypto event. The proposed legislation establishes a clear regulatory framework for digital assets, addressing current ambiguities that have blocked institutional capital.
On-chain data confirms the move higher. Whale wallets holding between 1,000 and 10,000 BTC added over 12,500 coins in the past 48 hours—aggressive accumulation by sophisticated investors front-running policy shifts. Spot Bitcoin ETFs recorded net inflows for the third consecutive day, signaling sustained institutional demand.
Ethereum traded at $2,291, up 19.3 percent in 24 hours. Solana climbed to $87.23. The Crypto Fear & Greed Index registered 62, signaling greed among market participants.
The Treasury Department is expected to release further details on its debt buyback schedule within two weeks. Congress is slated to begin committee hearings on the CLARITY Act next month.
