Bitcoin Rebounds Near $80,000 Amid Uncertainty Over Clarity Act
Bitcoin's price has rebounded to near $80,000 after a roughly 20% gain in the past month. However, the cryptocurrency remains negative for 2026, down around 10% this year.
The recent surge is attributed to a combination of factors, including the crypto market recovering from a large liquidation event in late August and increased buying activity in spot markets and ETFs.
Michael Bucella, co-founder and managing partner of Neoclassic Capital, noted that flows into bitcoin ETFs have been on the rebound, with the iShares Bitcoin Trust (IBIT) taking in around $3.5 billion in net flows over the past month.
The Clarity Act, a crucial Senate legislation aiming to establish a U.S. federal framework for digital assets, is still far from a lock, with prediction markets indicating low odds of its passage. Despite this, regulatory experts argue that sufficient clarity already exists for blockchain technology and crypto to continue integrating into mainstream finance.