Bitcoin Climbs to $66,000 as CLARITY Act Ethics Deal Lifts Crypto Markets

Bitcoin traded near $66,000 on Wednesday morning after spot ETF inflows returned and optimism around landmark U.S. crypto legislation lifted sentiment across digital asset markets. Renewed demand for U.S. spot Bitcoin exchange-traded funds has improved the market mood, though resistance near $67,000 to $68,000, geopolitical uncertainty, and elevated interest rates continue to limit the upside. Bitcoin's market cap sits at roughly $1.33 trillion, well ahead of second-place Ethereum at approximately $233 billion.

The clearest catalyst for the rally is momentum around the Digital Asset Market CLARITY Act. President Trump is said to have agreed to an ethics provision that would restrict the president, vice president, members of Congress, and other top officials from profiting from crypto while in office. The White House has described the proposed language as the most comprehensive ethics provision of its kind, and the concession resolves what had been the final major obstacle to the bill advancing through the Senate.

Senate Path Remains Narrow as Democrats Hold the Key Votes

Despite the breakthrough, passage is far from certain. Republicans hold 53 Senate seats, but the bill needs 60 votes, meaning at least seven Democrats must cross over, and none have signed on to the new language yet. The Senate breaks for recess around August 8, leaving Majority Leader John Thune a tight runway to schedule a floor vote. Democrats have signaled they remain uneasy about how the ethics limits would actually be enforced, and no bill text has yet been made public.

Prediction market Polymarket reflected the uncertainty by swinging between 32% and 48% odds of passage this year over just a few days, landing near 43% as of Tuesday. Major tokens including Bitcoin, Ether, and XRP posted gains following the Polymarket movement, though traders also attributed part of the lift to strength in AI and semiconductor stocks. The broader crypto market remained closely tied to technology share performance, institutional investment flows, and expectations surrounding U.S. digital asset legislation.