Bitcoin Surges Past $72,000 Amid Calls for Clarity Act
The price of Bitcoin (BTC) has broken above $72,000 as regulators and former US President Donald Trump urge Congress to pass the Clarity Act.
This news comes on the same day that U.S. stocks fell broadly as long-term Treasury yields rebounded, reversing some of the relief sparked by the Treasury's expanded bond buyback program a day earlier.
The renewed rise in yields pressured rate-sensitive stocks, with Amazon (AMZN), Tesla (TSLA) and Apple (AAPL) among the major decliners. The Dow Jones Industrial Average (.DJI.US) fell 696.96 points (1.3%) to 52,759.21, while the S&P 500 Index (.SPX.US) shed 67.02 points (0.9%).
The price of Bitcoin has seen significant gains over the past day, with a 24-hour trading volume of $73,055 and a 4.36% increase in value.