Bitcoin climbed more than 4% during early Asian trading on Friday, building on a powerful rally that began midweek following the U.S. Treasury's announcement of measures aimed at curbing long-term bond yields. The digital asset touched an intraday high of $75,740 by 10 a.m. Singapore time.

Treasury Secretary Bessent unveiled plans on Wednesday to at least double the size of liquidity support repurchase operations focused on longer-dated government securities. This move has injected fresh energy into the crypto market, propelling two consecutive days of gains and pushing Bitcoin up nearly 20% for the week.

Adding fuel to the bullish sentiment, President Trump held a meeting with executives from industry heavyweights including Coinbase Global Inc. and Payward Inc. Trump also urged the Senate to advance the Clarity Act, a cryptocurrency market structure bill that had stalled amid disputes over ethics provisions.

"The current market response has little to do with the Clarity Act, even though many in the market attribute the rally to it," noted Matthew Sigel, head of digital asset research at VanEck, in a report. "This is really about the Treasury's moves, which have reignited concerns over fiscal dominance."