Bitcoin Jumps Above $71,000 As Trump Pushes Crypto Bill. Standard Chartered Sees $100,000 By Year-End.

Bitcoin surged above $71,000 on Thursday, breaking out of a weeks-long trading range as President Donald Trump renewed his push for Congress to pass major crypto legislation and falling Treasury yields gave another boost to risk assets.

The world's largest cryptocurrency was trading about 5.2% higher at $71,880, while ether jumped more than 9% to $2,288.91. The rally marked a sharp turnaround for Bitcoin after it spent much of the past six weeks moving between roughly $62,000 and $66,000.

Trump urged lawmakers to pass the Clarity Act, legislation designed to establish clearer rules for the U.S. digital asset market, while reaffirming his support for the crypto industry. The president's comments helped lift sentiment across the sector, with CNBC reporting that expectations around Trump's crypto agenda were among the catalysts behind Thursday's rally.

The legislation has become one of the crypto industry's biggest priorities in Washington. The House passed its version of the Digital Asset Market Clarity Act in 2025, but efforts to establish a final regulatory framework have faced a more complicated path in the Senate as lawmakers debate how oversight should be divided between the Securities and Exchange Commission and Commodity Futures Trading Commission.