Bitcoin Posts Its Biggest Week Since 2024 as Trump Pushes CLARITY Act

Key Point

Bitcoin rose 6.4% over 24 hours to $76,977 and gained 22.6% over seven days. President Donald Trump urged the Senate to pass the CLARITY Act during a White House meeting with crypto executives. Senate cloture on the motion to proceed to H.R. 3633 is scheduled to ripen Tuesday, Sept. 15 at 2:15 p.m., and the bill needs 60 votes to advance. Farside Investors data shows U.S. spot bitcoin ETFs received $517.2 million on Wednesday and $606.3 million on Thursday. Coinglass recorded roughly $3 billion of leveraged positions closing over 24 hours around Wednesday's break, with more than 90% of the positions being shorts.

Why it matters: A Senate advance could strengthen expectations for clearer U.S. crypto rules, while ETF demand and short covering may amplify market momentum.

Market Sentiment

Bullish, Risk-on, Policy-driven, Trend-following.

Reason: Bitcoin's 6.4% 24-hour rise followed Trump's call for Senate passage of the CLARITY Act.

Similar Past Cases

After the U.S. election on Nov. 5, 2024, Bitcoin rose about 33% and approached $90,000 as traders anticipated a more favorable U.S. policy environment. (Bloomberg) The prior move followed an election result, while the current event centers on a Senate procedural step that still requires 60 votes.

Ripple Effect

A Senate advance could reinforce expectations for clearer U.S. rules and support demand across major crypto assets. If the Senate process stalls, policy-driven demand could weaken and leave the rally more dependent on ETF flows and short covering.

Opportunities & Risks

Opportunities: If the Senate advances H.R. 3633, then sustained spot bitcoin ETF demand could confirm that buyers are maintaining exposure after the legislative signal.

Risks: If cloture does not reach 60 votes, then reducing leveraged exposure limits reversal risk from fading policy expectations.