On Wednesday, President Trump met with crypto executives at the White House, announcing that his administration is “considering” significant purchases of Bitcoin (BTC/USD) and other digital assets while urging Congress to pass a revised CLARITY Act. Following this announcement, Bitcoin surged past $69,000, supported by Treasury Secretary Bessent’s announcement to double long-term bond buybacks from $2 billion to at least $4 billion, resulting in approximately $3 billion in short-position liquidations.
Additionally, Bitcoin closed above its 200-day moving average—an indicator that has historically signaled potential multi-year trend reversals—marking the first instance since November 2025. The Commodity Futures Trading Commission (CFTC) also held its first meeting of a new Innovation Advisory Committee, which included CEOs from major crypto companies like Coinbase and Robinhood. Bitcoin’s recent rally continued on Thursday, approaching $75,000, as discussions around regulatory clarity in the crypto space gain traction.
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