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Bitcoin Surges 22.6% as Trump Pushes for Clarity Act Passage

Guavy AI Editorial Team
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Bitcoin's price surged by 22.6% over the past week, its largest weekly gain since November 2024, following a meeting between President Donald Trump and cryptocurrency executives at the White House.

The meeting on Wednesday saw Trump push for the passage of the CLARITY Act, a market structure legislation aimed at regulating the industry and keeping the US ahead of China. SEC Chairman Paul Atkins stated that Congress needs to pass the bill, while Commodity Futures Trading Commission Chairman Michael Selig said his staff is exploring rules allowing spot and leveraged crypto trading on CFTC-registered venues.

The rally in Bitcoin's price also saw other major tokens gain significantly, with Ether rising by 28.8% over the week and XRP increasing by 36.7%. The total cryptocurrency market value rose to $2.6 trillion, up 2.2% over 24 hours.

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