Bitcoin rebounded to over $78,000 as the S&P 500 reached a record high and the U.S. Senate introduced a compromise Clarity Act to regulate stablecoin yield products.

Key Points

• Bitcoin recovered from a midweek low of $75,500 to trade at $78,180 during Saturday morning Asian hours.
• The S&P 500 and Nasdaq 100 both closed at all-time highs, supported by strong quarterly earnings from Apple and Oracle.
• The Senate’s new Clarity Act compromise prohibits stablecoin issuers from paying yield on reserves while permitting activity-based rewards.
• Senators Thom Tillis and Angela Alsobrooks negotiated the bill, which now moves to the Senate Banking Committee for a formal markup.
• Treasury and the CFTC are slated to establish detailed regulatory rules within one year of the legislation becoming law.

Why it Matters

The legislative progress on the Clarity Act provides a clearer regulatory framework for crypto firms, potentially reducing uncertainty for institutional investors. As markets remain sensitive to macroeconomic factors, this policy shift could serve as a catalyst for increased capital inflows into digital assets.