Bitcoin surged above $72,500 on Thursday, reaching its highest level since late May, as President Donald Trump urged Congress to advance cryptocurrency legislation and broader market conditions supported digital assets. Bitcoin rose 6.6% to $72,644, while Ethereum gained 11% and XRP advanced 19%. Hyperliquid's token jumped 15% after Trump said Commodity Futures Trading Commission Chairman Mike Selig was working to bring the decentralized exchange to the US. The gains followed calls from Trump, regulators and cryptocurrency executives for Congress to pass the Clarity Act. The proposed legislation would place Bitcoin and other cryptocurrencies under commodity regulations rather than securities laws. The bill is scheduled for a procedural vote on Sept. 15. In contrast, US stocks struggled on Thursday.