Bitcoin Surges 11% in Two Days as White House Pushes Clarity Act
· Business · CNBC, Wall Street Journal
Bitcoin surged more than 5% on Thursday to trade just below $72,000, its highest level since June 1, bringing its two-day gain to more than 11% after opening the week near the $63,000 level. Crypto-linked stocks also rallied in premarket trading, with Coinbase and Circle rising about 6% each and Strategy jumping over 9%. The broader crypto market move was triggered by a sharp pullback in Treasury yields and amplified by a massive short squeeze that liquidated roughly $2.7 billion in short positions. On Wednesday, the White House hosted CEOs from leading crypto companies including Coinbase, Kraken, Robinhood, Ripple, and ChainLink for a last-minute event. President Donald Trump used the meeting to urge Congress to pass a fair version of the crypto market structure bill known as the Clarity Act before the end of the year.
Why it matters
The legislative push for the Clarity Act and the recent market rally signal potential regulatory clarity and renewed momentum for the digital asset sector following months of stagnation.
Read the original report — CNBC
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