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Bitcoin Rallies After Bessent Says Clarity Act at ‘1-Yard Line’
['Vildana Hajric', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
(Bloomberg) -- Crypto markets are stirring after months of listless trading on signs that Washington is moving toward a clearer rulebook for digital assets.
Most Read from BloombergBitcoin rose more than 2% toward $67,000 on Tuesday, while shares of Coinbase Global Inc. climbed as much as 12.6% after Treasury Secretary Scott Bessent said lawmakers were at the "1-yard line" on the Clarity Act.
Spot ETF inflows have turned positive again, while trading volumes have recovered and derivatives positioning points to fading selling pressure.
FRNT Financial's Stephane Ouellette pointed to Bitcoin's trading range of roughly $60,000 to $67,000 since the start of June.
Crypto markets have been battered since October, following a surprise crash that liquidated swaths of positions and dented sentiment enough to prevent any major uptick.