Bitcoin Surges Above $81,000 Amid Crypto Market Volatility
The price of Bitcoin surged above $81,000 on September 18 as volatility in the crypto market led to nearly $300 million in leveraged liquidations over a four-hour period.
This move came after the Clarity Act failed to advance in the US Senate earlier this week. The bill aimed to establish clearer regulatory framework for digital assets by dividing oversight between the SEC and CFTC, setting rules for crypto exchanges, brokers, and other market participants.
The setback has raised questions about the crypto industry's close ties with US President Donald Trump. Trump and his ventures generated about $1.4 billion in crypto-related income last year, while his administration rolled back parts of the enforcement approach followed under former President Joe Biden and supported legislation for stablecoins.