Bitcoin surges 22.6% in a week as CLARITY Act vote date revives rally

Bitcoin climbed 22.6% over seven days to $76,977, its highest close since May 25, as a scheduled Sept. 15 Senate vote on the CLARITY Act returned regulatory timing to crypto markets. President Donald Trump urged lawmakers to advance the bill at a White House meeting with crypto executives, while the Securities and Exchange Commission's token-offering proposal, strong U.S. spot bitcoin ETF inflows and short liquidations helped drive the move. Ether gained 28.8% on the week to $2,420, XRP rose 36.7% to $1.37 and Solana advanced 21.5% to $91.02. Total crypto market value reached $2.6 trillion. Despite the rally, bitcoin and ether remained 38.9% and 51.1% below their records, respectively. The move was supported by spot buying and short covering rather than expensive leveraged long positions, while longer-term Treasury yields fell after the Treasury doubled the size of certain buybacks. Other notable developments included Ethena's $1 billion financing facility, Curve's 15.9% emissions cut, a proposed Grayscale Zcash ETF conversion and a sharp rise in Zcash linked to institutional activity.

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