Bitcoin prices surged more than 10% in a single day, climbing into the $71,000 range. The U.S. Treasury's measures to stabilize Treasury yields and President Donald Trump's remarks urging legislation for the CLARITY Act acted as double tailwinds.
As of 6 p.m. on the 20th (Korean time), Bitcoin prices were reported at $71,504, up 11.08% from 24 hours earlier, according to CoinMarketCap, a global virtual asset market platform. The domestic trading price was KRW 98.79 million based on Upbit, forming 3.61% higher than Binance.
Ethereum was reported at $2,280, up 18.73%. CoinMarketCap's "Fear and Greed" index, which approaches zero as selling pressure increases, rose more than 20 points from the previous day to 60 out of 100, moving two steps up from "fear" to "greed."
On the 19th (Eastern U.S. time), following news that the U.S. Treasury would expand its long-term Treasury buyback scale by more than double, U.S. Treasury yields plummeted sharply, prompting a simultaneous sharp rebound in the global virtual asset market. Virtual assets are classified as an asset class highly sensitive to liquidity trends driven by interest rate fluctuations.
The Treasury announced it would increase the buyback scale for Treasury bonds with remaining maturities of 10–20 years and 20–30 years from a maximum of $2 billion per session to a minimum of $4 billion. This policy will operate temporarily until November 4 this year, with future operational plans to be disclosed later.
Kim Ji-man, a researcher at Samsung Securities, stated in a bond report that day: "Structural factors such as fiscal deficits, issuance structures, competition for long-term funds, and slowing overseas public demand remain unchanged." He added, "This move carries the meaning of the Treasury confirming an approximate level of long-term interest rates it can manage."
On the same day, at a White House event inviting executives from virtual asset companies, President Trump said: "Congress must pass a fair version of the CLARITY Act to move to the next stage," calling it "very strong legislation that will allow the U.S. to stay ahead of China and all other competing nations."
According to Bloomberg, major figures from the virtual asset and digital finance industries attended the event, including Brian Armstrong, CEO of Coinbase; Arjun Sethi, co-founder of Payward (operator of virtual asset exchange Kraken); and Vlad Tenev, CEO of Robinhood.
in STOCK
