Bitcoin posted a 22% weekly gain following a drop in U.S. Treasury yields, with $2.7 billion in crypto short positions liquidated. Senator Cynthia Lummis linked Bitcoin to America’s $39.2 trillion national debt, presenting it as a potential hedge against currency debasement for younger generations. The CLARITY Act, which would establish a jurisdictional division between the SEC and CFTC for digital assets, faces significant obstacles in the Senate, including the 60-vote cloture threshold. Bitcoin is currently trading around $80,000, with Galaxy Research estimating a 60-75% probability of the CLARITY Act becoming law in 2026.
Source: Read the original article
