Crypto markets and related equities staged a broad rally on Thursday after President Donald Trump urged Congress to advance cryptocurrency legislation, while supportive signals from the U.S. Treasury helped ease bond-market concerns. Bitcoin climbed more than 9% to around $71,000, its highest level since June 2.
The optimism lifted major crypto-exposed stocks. Coinbase jumped 8%, Robinhood rose 5.8%, and Strategy added 10%. Circle Internet Group gained 5%, while Riot Platforms and Mara Holdings each rose between roughly 3% and 5%. Webull was among the strongest performers, jumping 14% after reporting record second-quarter revenue of $198.8 million, up 51% year-over-year.
The rally was reinforced by the U.S. Treasury's decision to double planned buybacks of longer-dated Treasuries to at least $4 billion per operation, which pushed long-term yields lower. Investors viewed that as a positive for risk assets, including cryptocurrencies. Easing concerns around bond market liquidity and growing optimism about potential U.S. crypto legislation also supported the move.
Broader equity markets were mixed, with Walmart falling after comparable sales missed estimates and Alibaba absorbing heavy AI spending, but crypto-linked names remained bid. The session highlighted how Bitcoin's recovery above $70,000 can lift retail interest and trading volumes, directly benefiting exchanges and adjacent platforms.
