- Bitcoin surged past $66,000, its highest level in over a month, following a bullish prediction from BlackRock‘s CEO
- Odds of the Clarity Act passing before April 2027 jumped to 61% on Kalshi, up from 33% last week
- President Trump agreed to an ethics provision in the bill, clearing a key hurdle for a Senate vote as soon as next week
- White House crypto adviser Patrick Witt deferred military training to see the bill through, saying, “Let’s finish the job”
- Analysts call the Clarity Act the market’s “ultimate catalyst,” predicting it could unlock institutional demand and spark a new bull run
Bitcoin climbed to its highest level in over a month, topping $66,000 after BlackRock‘s chief executive teased a surprisingly bullish prediction. The price had struggled through 2026 after crashing from its all-time high of $126,000 in October last year.
President Donald Trump revealed bitcoin is being used “at levels that nobody understands,” and traders suddenly swung to betting the long-awaited Clarity Act will pass this year. Traders on the Kalshi prediction market are now putting the chances of the bill becoming law before April 2027 at 61%, up from 33% just last week.
The swing followed reports that Trump agreed to an ethics provision, paving the way for a full Senate vote possibly as soon as next week. An anonymous source told The Block, though Punchbowl News‘ Brendan Pedersen added that Democrats had not seen the text yet.
Meanwhile, the White House’s top crypto adviser Patrick Witt posted that his military training had been deferred, allowing him to see the effort through. “I am grateful to report that my training has been deferred,” Witt wrote, adding, “Let’s finish the job.”
The Clarity Act now enters a “critical pre-August recess window,” according to analysts with the Bitfire Research Institute. Missing that window means pushing into the post-midterm lame duck session, a much less predictable outcome.
CK Zheng, a former global head of risk at Credit Suisse who now runs crypto hedge fund ZX Squared Capital, called the bill’s passage the “ultimate catalyst.” “Large institutions are sitting on the sidelines waiting for regulatory guardrails,” Zheng said, predicting institutions will race to gain exposure out of fear of missing out.
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