Bitcoin climbed above $70,000 for the first time since early June, reaching roughly $72,000 and gaining more than 11 percent since last Friday. The rally coincided with U.S. spot Bitcoin ETFs drawing $517.2 million in net inflows on Wednesday, the largest single-day investment since early May, while record short liquidations totaling $2.74 billion amplified the upward move.
Ether followed with a 19 percent jump to around $2,286, and spot Ethereum ETFs attracted $189.2 million in Wednesday inflows. Smaller tokens also advanced, with Hyperliquid rising as much as 24 percent.
The surge came as President Donald Trump met with executives from Coinbase, Ripple and Gemini at the White House and urged Congress to swiftly pass the CLARITY Act, a proposed crypto regulatory framework. Markets also reacted to the U.S. Treasury's announcement to expand buybacks of longer-dated government debt, a move that eased liquidity concerns.