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Bitcoin tops $70,000 as falling yields and Trump crypto meeting lift risk

Bitcoin climbed about 4.1% to more than $71,900, and more than $3 billion in crypto short positions were liquidated in 24 hours, data cited by the outlet show.

Reported · Written up by our desk · Market Structure

Bitcoin surged past $70,000 for the first time in more than two months, driven by lower US Treasury yields and a high-stakes meeting President Donald Trump held with crypto industry leaders, according to LiveMint Markets.

The outlet said Bitcoin rose about 4.1% to over $71,900, its highest level since May 31. It also cited data showing a token linked to offshore exchange Hyperliquid gained 23% in 24 hours after Trump indicated the US is looking at options for allowing the derivatives platform to operate in the country.

LiveMint Markets attributed the broader move to risk assets rallying after US plans to buy back longer-dated treasuries pushed yields lower and sent the dollar to a three-month low. The outlet also said short-position liquidations accelerated, with more than $3 billion in cryptocurrency shorts liquidated over the prior 24 hours, citing CoinGlass data.

Other digital assets rose as well, with Ether gaining as much as 5.3%, Solana climbing about 5%, and XRP up more than 5.5%, the outlet reported. The positive tone also followed renewed optimism around the Clarity Act, a crypto market structure bill that stalled before a Senate vote, with the Senate expected to take it up again in mid-September when it returns.

Latest closeBitcoin $71,707.39 ▲3.5%|Solana $86.47 ▲1.3%|XRP $1.222 ▲10.6%

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