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Bitcoin and ether rise after Treasury long-term debt repurchase
Bitcoin was trading at $77,307.95 and ether at $2,390.81 as crypto gains were linked to lower long-term bond yields and improving risk appetite.
Bitcoin and ethereum continued to climb on Friday, with bitcoin up 5.4% from Thursday’s opening price and ether up 3.3% at the start of trading, according to Yahoo Finance.
As of 9:08 a.m. ET, bitcoin was $77,307.95 and ethereum was $2,390.81, after both prices moved higher through the morning.
Yahoo Finance said the rally was sparked by a Treasury announcement to buy back more long-term debt and by President Trump’s call to pass crypto legislation.
The outlet added that Treasury repurchases can inject liquidity into financial markets by suppressing long-term bond yields, which can free up investor cash and boost demand for riskier assets like cryptocurrencies.
Latest closeBitcoin $77,492.02 ▲6.1%|Ethereum $2,411.23 ▲3.6%