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Bitcoin hits $66k, up ~15% in two weeks, after Treasury chief Scott Bessent urged passage of the crypto market‑structure Clarity Act, boosting market optimism.
Bitcoin surged to around $66,000 – a 15% rise from its early‑month lows – after Treasury Secretary Scott Bessent told CNBC that passing the crypto market‑structure “Clarity Act” is “very important” for market recovery【1】. The move revives hopes that legislative clarity could act as the long‑awaited catalyst for Bitcoin’s next rally.
| At a glance | |
|---|---|
| Price | $66,000 |
| 24‑h change | +0.3% (approx.) |
| Recent move | +15% in < 2 weeks |
| Catalyst | Treasury secretary’s Clarity Act endorsement |
Bessent’s remarks came amid a broader political shift: President Donald Trump reportedly agreed to an ethics provision in the Clarity Act, lifting prediction‑market odds of passage to about 61% from 33% a week earlier【2】. The bill would split oversight between the SEC and CFTC, creating a formal rulebook for crypto firms. Analysts at Nansen noted that a Senate vote on the bill could “challenge the $70,000 level,” suggesting the legislation could lift Bitcoin out of its $52k‑$70k trading range【1】.
Bitcoin remains roughly 50% below its October 2023 all‑time high of $126,000, and its correlation with U.S. equities has fallen to historically low levels since January, according to Nansen’s Aurelie Barthere【1】. The price rally follows a period of volatility triggered by Coinbase’s last‑minute withdrawal of support for the bill, which had previously added to market uncertainty【1】. Despite the rally, some market participants, such as Koinly CEO Robin Singh, caution that without a “major catalyst” Bitcoin is unlikely to breach its previous highs this year【2】.
The price jump underscores how legislative signals can quickly reshape Bitcoin sentiment, yet the market’s trajectory will hinge on whether the Clarity Act clears the Senate and how quickly the odds stabilize.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 22, 2026 · How we report
Bitcoin traded near $66,000, with a weekly high of $66,891, but remains about 50% below its October peak of $126,080.
Data from Farside Investors shows close to $1 billion was pumped into Bitcoin exchange‑traded funds over a six‑day period.
S&P Dow Jones Indices CEO Kathy Clay said Bitcoin failed to meet a key revenue‑generation requirement, leading to its exclusion.
The widened put/call skew and modest funding rates indicate heightened fear among traders but not outright panic.
Spot volume averaged about $5.1 billion per day over the past 30 days, down roughly 29% from the post‑2019 norm.