Trump's Call to Action Boosts Bitcoin to Three-Month High

Bitcoin surged to its highest level in three months on Friday after US President Donald Trump called for Congress to pass market structure legislation. The crypto market saw a significant rally, with every major token rising as investors anticipate the potential impact of the proposed bill.

The CLARITY Act aims to provide clarity on cryptocurrency regulations and is seen as a crucial step in boosting investor confidence. Trump hosted a meeting at the White House with SEC Chairman Paul Atkins and other crypto executives, where he emphasized the need for Congress to pass the legislation.

The Senate has scheduled a cloture vote on the bill for September 15, which needs 60 votes to advance. Traders had previously pushed the odds of passage into 2027 after Majority Leader John Thune skipped an earlier cloture filing.

Bitcoin gained 22.6% over seven days, its largest advance since November 2024, while Ether rose 28.8%, XRP added 36.7%, and Solana surged 21.5%. The rally pushed the total crypto market value to $2.6 trillion, up 2.2% over 24 hours.