# Bitcoin jumps to $66,000 as Treasury secretary backs Clarity Act

**Published:** 2026-07-22T19:02:45.576Z  
**Topic:** Bitcoin  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/82f84d19-19ad-42e0-af08-9d53e4d57af9

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 |

## Treasury push fuels price bounce  
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】.  

## Market context and on‑chain backdrop  
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】.

## What to watch  
- **$70,000 resistance** – a key level that could signal a breakout if the Clarity Act moves forward.  
- **Clarity Act Senate vote** – scheduled before the August recess; a vote could shift odds and price momentum.  
- **Prediction‑market odds** – Polymarket and Kalshi odds hovering around 60% for passage; sharp changes may precede price moves.  

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.

## Sources
1. Forbes — [U.S. Treasury Secretary Issues ‘Very Important’ Crypto ...](https://www.forbes.com/sites/digital-assets/2026/02/14/us-treasury-secretary-issues-very-important-crypto-prediction-as-the-bitcoin-price-suddenly-soars/)
2. Forbes — [‘Major Catalyst’—U.S. Treasury Secretary Fuels Bitcoin Price Surge](https://www.forbes.com/sites/digital-assets/2026/07/22/bitcoin-suddenly-soars-on-surprise-congress-price-game-changer/)
3. Whitehouse — [Establishment of the Strategic Bitcoin Reserve and United ...](https://www.whitehouse.gov/presidential-actions/2025/03/establishment-of-the-strategic-bitcoin-reserve-and-united-states-digital-asset-stockpile/)

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Cite as: TrendWatcher, "Bitcoin jumps to $66,000 as Treasury secretary backs Clarity Act", https://www.trendwatcher.in/article/82f84d19-19ad-42e0-af08-9d53e4d57af9