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Bitcoin rose nearly 12% in two days, reaching $ 72,383—its highest level since June 1. Earlier this week, the cryptocurrency was trading around $ 63,000. Bitcoin is still about 40% short of its all-time high of $ 126,000, set in October 2025.
The rally began on Wednesday following a sharp drop in U.S. Treasury yields, which eased pressure on risk assets. A massive liquidation of short positions provided additional fuel for the rally: traders were forced to close short positions totaling about $ 2.7 billion. Along with Bitcoin, shares of related companies also rose— Coinbase, Circle, and Strategy (formerly MicroStrategy) each gained about 7%.
On Wednesday, the White House held an unscheduled meeting with executives from leading cryptocurrency companies, including Coinbase, Kraken, Robinhood, Ripple, and ChainLink. U.S. President Donald Trump called on Congress to pass a «fair version» of the Clarity Act by the end of this year.
According to Trump, passing the bill will allow the U.S. to maintain its technological leadership over China and other countries, as well as create conditions for a new wave of innovation in the digital assets sector. The Clarity Act is designed to establish clear regulatory rules for the U.S. cryptocurrency market.
The main stumbling block remains the disagreement between Democrats and Republicans over ethical restrictions. Democrats are insisting on strict rules that would prevent the president and other government officials from personally profiting from cryptocurrencies. Republicans, on the other hand, consider some of the proposed provisions to be overly targeted and restrictive.
After the Senate went on its August recess without a vote, investors effectively put the prospect of the bill’s passage in 2026 on hold. The recent intensification of negotiations has brought this prospect back onto the agenda. The first procedural vote in the Senate, scheduled for September 15, will be decisive: its failure would virtually eliminate any chance of the Clarity Act being passed by the end of the year.