Bitcoin reclaims $72K, hits 10-week high as Trump backs Clarity Act; Ethereum, XRP rally up to 20% - Fortune India

Bitcoin’s return to $72,000, marking a 10-week high, comes amid reports that former President Trump has voiced support for the Clarity Act, a measure focused on establishing clearer regulatory frameworks for digital assets. The announcement appears to have injected fresh optimism into the cryptocurrency market, with Ethereum and XRP each rallying as much as 20% in the same session.

The broad-based move reflects how sensitive digital asset prices remain to regulatory signals. For much of the past cycle, uncertainty over how tokens and exchanges would be classified has weighed on sentiment. A clear, consistent framework could help reduce that ambiguity, potentially making it easier for institutions to participate without running afoul of existing securities laws.

At this stage, the specifics of the legislation and its path to enactment are still taking shape. What stands out is the market’s immediate response: a reminder that policy clarity, not just market dynamics, can act as a powerful driver for cryptocurrency valuations. Observers will likely watch for further details on the act’s provisions and any additional political endorsements as the bill advances.