Bitcoin Jumps Above $66K as Trump-Backed Clarity Act Progress Lifts Crypto Market

Bitcoin climbed above $66,000 after reports suggested the long-awaited U.S. Clarity Act moved closer to becoming law, boosting optimism across the cryptocurrency market. The proposed legislation is expected to establish a clear regulatory framework for digital assets by distinguishing cryptocurrencies classified as commodities from those treated as securities.

Crypto journalist Eleanor Terrett reported on X that U.S. President Donald Trump had agreed to a key ethics provision tied to the bill. The updated language has reportedly been shared with a group of Senate Republicans, potentially removing one of the biggest obstacles to the legislation’s passage.

The positive regulatory news helped fuel a broad crypto rally. Bitcoin gained 3.5% over the past 24 hours to trade above $66,000, reaching its highest level in more than a month. Ether (ETH), BNB, and XRP outperformed Bitcoin, while the CoinDesk DeFi Select Index surged 9%. Market sentiment also benefited from a rebound in Asian semiconductor stocks after last week’s selloff, supporting a broader risk-on environment.

Analysts are now monitoring the $68,000 level as Bitcoin’s next major resistance. FxPro chief market analyst Alex Kuptsikevich said the area near $68,000 aligns with the 61.8% Fibonacci retracement from the May-June decline. Holding above that level could confirm a stronger bullish trend reversal.

Derivatives data also points to improving market confidence. Bitcoin futures open interest increased from below 750,000 BTC to around 770,000 BTC as prices advanced, indicating fresh capital entering the market. Positive cumulative volume delta (CVD) suggests buyers are driving the rally through aggressive market orders. Ether futures showed similar strength, while open interest in XRP and Solana futures remained relatively unchanged.

Dogecoin stood out with futures open interest climbing to its highest level since early May, although negative CVD signaled that sellers still dominated trading activity. Other cryptocurrencies, including Cardano, Stellar, and Chainlink, also recorded rising open interest alongside positive CVD readings, reflecting broader investor participation.

Beyond price action, blockchain adoption continued to expand. Solana’s tokenized asset volume reached a record $5.8 billion in the second quarter, up 114% from the previous quarter, driven by growing demand for tokenized equities. Meanwhile, the global tokenized real-world asset market, excluding stablecoins, has grown to more than $33 billion, underscoring increasing institutional adoption of blockchain technology.