Bitcoin and crypto stocks jump after Trump backs Clarity Act

Bitcoin and <a href="https://xpertsstudio.com/over-3-billion-in-short-positions-have-been-%ef%bd%9ccryptocurrency-market-bitcoin/” title=”Over $3 billion in short positions have been …｜Cryptocurrency market, Bitcoin”>cryptocurrency-related stocks surged Thursday after US President Donald Trump called on Congress to pass legislation establishing clearer rules for the digital asset industry.

The rally followed a White House meeting with cryptocurrency executives, where Trump urged lawmakers to approve a “fair version” of the Clarity Act, an industry-backed bill that has stalled in the Senate, Reuters reported.

Trump has repeatedly pledged to make the United States the “crypto capital of the world” and has positioned his administration as supportive of the digital asset industry.

The Clarity Act would establish clearer rules for determining whether cryptocurrencies should be classified as securities or commodities and would help define the respective regulatory roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Crypto industry executives and analysts argue that legislation is needed to provide greater certainty and reduce the sector’s exposure to changing political positions and legal challenges.

However, the bill faces opposition from some Democrats and Republicans who want stronger restrictions preventing political officials, including Trump, from benefiting from their own cryptocurrency businesses.

Trump disclosed more than $1.4 billion in earnings from his family’s crypto ventures in 2025, according to the report.

Bitcoin rose 3.4%, breaking through resistance levels that had held since early June and moving above $70,000 to reach approximately $71,700.

Ether also climbed 3.3%, reaching its highest level in more than three months.

The gains echoed the market reaction to the GENIUS Act, which was signed into law in July 2025 and established a federal regulatory framework for stablecoins.

Crypto-related stocks also rallied sharply in premarket trading.

Coinbase Global jumped 8.4%, while bitcoin-focused investment company Strategy gained 10%.

Bitcoin miners Riot Platforms, MARA Holdings, Hut 8 and Bit Digital rose between 3% and 6%.

Bitcoin mining equipment manufacturer Canaan surged 20%, while stablecoin issuer Circle Internet Group gained 8%.

Retail trading platform Robinhood Markets advanced 5%.

The rally comes despite a difficult year for Bitcoin and the wider crypto market. Bitcoin remains down about 18% so far in 2026, meaning Thursday’s jump represents a notable rebound rather than a complete reversal of the year’s losses.

Investors are now watching whether renewed political momentum behind crypto legislation can translate into actual congressional action and provide the regulatory certainty the industry has long sought.

Source: news.az