- Trump’s crypto push and Treasury moves are fueling Bitcoin’s sharp breakout.
- Clarity Act set to bring clearer crypto rules and further boost market confidence.
- Traders are watching ETF inflows and policy progress for signs Bitcoin can reach $100K.
After Bitcoin spent six weeks stuck in a tight band between $62,000 and $66,000, the price is now on a historic breakout.
The range broke this week as President Donald Trump’s renewed push for crypto-friendly legislation, alongside a major move from the U.S. Treasury, sent Bitcoin sharply higher and put the $100,000 target back on the table for traders.
As of press time, Bitcoin was trading around $79,500, up sharply from around $62,000 just days earlier. The question now is whether this is the start of a real trend reversal or just another sharp bounce inside a longer sideways range.
The Policy Catalyst
On August 19, Trump hosted crypto industry leaders at the White House. The meeting included the CEOs of Coinbase, Ripple, Robinhood, and Kraken, along with regulators from the SEC and the Commodity Futures Trading Commission (CFTC).
At the event, he urged Congress to pass “a fair version” of the Digital Asset Market Clarity Act. This bill seeks to spell out which crypto tokens count as securities (investments regulated like stocks), which count as commodities (raw assets like gold or oil), and which federal agency oversees each.
Meanwhile, the bill has stalled in the Senate. The holdup isn’t about crypto policy itself but about ethics provisions meant to stop government officials from profiting from digital assets. This is a sensitive issue given Trump’s own family’s crypto business interests.
Democrats have raised concerns specifically about that conflict. The Senate will take up the bill again after it returns from recess in September, so a final vote is still weeks away at the earliest.
CFTC Making Moves
In the meantime, the Trump administration has been moving on its own. Federal regulators have been directed to advance crypto-friendly rules without waiting for Congress, and the CFTC held the first meeting of its new Innovation Advisory Committee this week.
Trump also hinted that the administration may look at regulating Hyperliquid, a fast-growing decentralized exchange known for “perpetual futures” trading. Hyperliquid’s token jumped roughly 25% in the 24 hours following the comments.
Can Bitcoin Hold the Breakout?
Amid the favorable environment, Bitcoin’s price has continued to surge this week.
But what amplified the reaction was a separate move from the U.S. Treasury, which announced a significant increase in buybacks of 20-year and 30-year government bonds. That step pushed long-term Treasury yields down, which tends to make riskier assets like Bitcoin more attractive by comparison.
Analysts pointed to that combination, policy support plus falling yields, as the real driver. Geoffrey Kendrick, global head of digital assets research at Standard Chartered, called the Treasury’s move exactly the kind of macro shift Bitcoin responds well to. He said investors should now be positioning for a move toward $100,000 by the end of 2026.
The rally also triggered heavy forced selling in the other direction. Thomas Lee, co-founder of Fundstrat, said the move was large enough to trigger the second-largest short liquidation in crypto market history, which likely added extra fuel to the upward move.
Still, Bitcoin remains well below both its 2026 high near $94,800 and its all-time high above $126,000, hit in October last year.
What to Watch Next
For this move to become a real trend rather than a short-term spike, traders will want to see two things:
- Progress on the Clarity Act when the Senate returns in September.
- Strong trading volume and inflows into Bitcoin ETFs, which already attracted over $600 million yesterday and $1.61 billion since last week.
For now, the Clarity Act is the breakout catalyst. When the Senate votes, Bitcoin’s next move may be more pronounced, especially with continued Bitcoin ETF inflows and a supportive macroeconomic environment.
Related: Trump’s Bitcoin Buy Plan Sparks Rally: Can BTC Break Higher?
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