Bitcoin Rises Above $71,000 as CLARITY Act Progress Supports Market
Bitcoin's price surge continues to gain momentum, approaching $72,000 after a 15% increase since Monday. This rebound is largely attributed to renewed liquidity in the US and progress surrounding the CLARITY Act.
The Treasury Secretary's announcement of bond buybacks has injected liquidity into circulation, favoring risky assets like Bitcoin. Additionally, the return of the CLARITY Act to Washington's political debate has further supported the market.
On the stock side, companies exposed to cryptos are also benefiting from the rebound. Strategy gains 10% in pre-market, while Coinbase and miner MARA Holdings rise as well.
The next key level for Bitcoin is $75,689, the True Market Mean. A sustained move above this level would strengthen the idea of a deeper trend change.