Bitcoin hits record amid regulation concerns

Bitcoin's price reached a record high, with the rate of increase surpassing 8% to approach the $78,000 level, recording its highest levels since late May. This rise was supported by U.S. President Donald Trump's call for policymakers to pass clear legislation regulating the digital currency sector, along with improved risk appetite in the markets following the U.S. Treasury Department's announcement of doubling bond purchases to reduce rising yields. The momentum is also attributed to the unwinding of short positions and declining yields, coupled with an unprecedented improvement in the performance of cryptocurrency company stocks and related investment funds, although the currency remains approximately 15% below its beginning-of-year levels.

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