Bitcoin climbed above $77,000 on Friday for the first time since May, as easing conditions in the US bond market, broader macroeconomic developments and signs of political support helped lift cryptocurrency prices.

According to CoinMarketCap data, the global cryptocurrency market capitalization rose nearly 6.6% over 24 hours to reach $2.6 trillion, Anadolu Agency reported.

Bitcoin, the world’s largest cryptocurrency by market capitalization, gained more than 7% over the same period, reaching $77,700 as of 0930 GMT.

Ethereum, the second-largest cryptocurrency by market value, also advanced, rising nearly 4.4% to $2,390.

The latest rally marks a notable rebound for Bitcoin after…