Crypto Prices Rise on Clarity Act Optimism Amid Market Volatility

Bitcoin and Ether have seen price gains this week due to optimism surrounding the potential passage of the US CLARITY Act. The Act aims to clarify crypto regulations and is gaining traction in the Senate, although it still faces hurdles from Senate Democrats concerned about consumer protection and ethics.

Rising oil prices and inflation fears have increased market expectations for Federal Reserve rate hikes, causing some volatility. Investors are closely watching the Fed's upcoming meeting and the impact of geopolitical tensions and AI spending on broader markets.

Meanwhile, Shiba Inu has surged 40% in two days, re-entering the top 25 cryptocurrencies mainly due to a whale-driven liquidity squeeze. The rally faces resistance near $3.5 billion market cap and the 200-day moving average.