Trump-Backed Clarity Act Sends Bitcoin Soaring Above $75K
Bitcoin has surged to its highest valuation since May 2026, breaking above $75,000 as President Donald Trump's vocal support for the Clarity Act fuels a 22% weekly rally. The legislation aims to establish a comprehensive regulatory framework for cryptocurrencies in the United States, classifying digital assets as either securities or commodities.
The White House meeting with crypto executives and regulators on Wednesday marked a turning point, with Bitcoin jumping over 5% to trade above $68,600. The momentum has accelerated since, with BTC shattering the $72,000 barrier for the first time since early June and delivering a 12% gain in just 48 hours.
The Clarity Act's passage would likely unlock significant institutional capital that has remained on the sidelines, waiting for clearer rules of engagement. Crypto-related stocks have outperformed the broader market, with Coinbase jumping nearly 8% and Strategy Inc (formerly MicroStrategy) shares surging almost 14% as traders anticipate increased trading volumes and new product opportunities under a clearer regulatory regime.