Bitcoin climbed as high as $72,300 during the European morning on Thursday after breaking out of a weeks-long trading range, following a renewed call from President Trump for Congress to pass the Clarity Act. The move came after Erald Ghoos, CEO of OKX Europe, said the market appeared close to a bottom as money that had shifted into AI and semiconductor stocks began returning to digital assets. Ghoos said passage of the Clarity Act could revive crypto enthusiasm and confidence in the United States, adding that institutional interest, regulatory clarity in the U.S. and Europe, and more accessible DeFi (decentralized finance) were aligning for broader adoption. His view contrasts with OKX global managing partner Haider Rafique, who said markets anticipate news and that most Clarity-related appreciation is already reflected in Bitcoin prices. Ghoos has argued that regulation is a foundation for the industry rather than an obstacle. In June, he predicted that 80% of crypto exchanges would not survive MiCA (the European Union’s crypto-asset regulatory framework), citing the expense and complexity of operating a compliant, multi-license business across Europe. Europe was previously thought to have more than 3,000 registered virtual-asset service providers, but about 244 firms were authorized under MiCA as of late June. Ghoos said the market had already found its floor regardless of the pace of U.S. rulemaking and that capital previously flowing into semiconductors, AI stocks and SpaceX would eventually return to crypto. AI-linked memory and semiconductor stocks weakened after dominating markets in 2026, while CoinDesk analyst James Van Straten wrote in early July that investors were watching whether the trend would reverse as leading AI companies lost momentum and Bitcoin gained strength.