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Bitcoin price surges nearly 7% to break $86,000, shrugging off last week's setback for the Crypto-Asset Clarity Act.
Bitcoin's price briefly touched $86,247 in early New York trading on Monday, rising nearly 7% in the past 24 hours, despite the highly anticipated Crypto-Asset Clarity Act failing to pass through the legislative process last week. The bill was stalled due to ethical concerns raised by Democratic lawmakers regarding the Trump family's crypto asset holdings. Additionally, last week saw nearly $593 million in net inflows into US spot Bitcoin ETFs, and the Federal Reserve's interest rate hikes did not impact Bitcoin's trajectory.
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