Bitcoin steadied above $77,000 on Monday after a sharp weekend rebound fueled by expectations of clearer U.S. crypto regulation and improved market liquidity.
The world’s largest cryptocurrency traded at $77,091.10 at 01:47 ET, up 1.3% on the day, having earlier touched levels above $79,000. The advance followed remarks from former U.S. President Donald Trump, who urged lawmakers to pass a revised version of the Clarity Act, a stalled legislative proposal aimed at defining crypto’s regulatory framework.
The Clarity Act has been bogged down in Congress for more than a year, with key disputes over whether digital assets should be classified as securities or commodities, how stablecoin yield payments should be treated, and restrictions on government officials trading crypto. Trump’s recent call for a fairer version of the bill has renewed investor optimism, though passage remains uncertain.
Sentiment also improved after the U.S. Treasury said it would double its buybacks of longer-dated bonds to lower yields, injecting additional liquidity into risk assets. This move, combined with concerns over a widening U.S. fiscal deficit and potential dollar weakness, supported speculative assets including cryptocurrencies and gold.
Ether climbed 2.7% to $2,457.34, while XRP gained 2.4% to $1.4784. Solana, Cardano and BNB each rose more than 2%, and Dogecoin added 2.4%. The memecoin $TRUMP, linked to the former president, edged up 0.5%.
Gains were tempered by geopolitical risks, as the U.S. prepared to announce stricter sanctions against Iran. Broader crypto prices had surged over the weekend on regulatory hopes but cooled amid caution over the escalating measures.
Bitcoin’s high volatility continues to limit its appeal as a stable hedge compared with gold, despite the renewed regulatory optimism and improved liquidity conditions.
