Bitcoin rose 7% following Trump's remarks on the CLARITY Act
Bitcoin rose 7.09% on Wednesday and closed at $69,266, approaching the $70,000 mark. Ethereum rose 17.48% to $2,251, Solana rose 10.83% to $85.37, and XRP gained 10.29% to $1.1044, according to The Rio Times.
According to the publication, the market movement was linked to U.S. President Donald Trump’s call for the Senate to pass a version of the CLARITY Act, which he called fair. The bill concerns the structure of the cryptocurrency market. Prior to this, Trump met with representatives of the crypto industry at the White House. The Rio Times also notes that dovish signals from the U.S. Federal Reserve contributed to investors’ willingness to take risks.
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During the cryptocurrency market’s rally, short positions totaling over $1.14 billion were liquidated. According to The Rio Times, the forced liquidation of bearish positions fueled the rally. Amid the cryptocurrency rally, shares of companies tied to the sector—including Strategy, Coinbase, and Circle—also rose.
At the same time, in Latin America, stablecoins—not Bitcoin—remain the primary form of digital asset usage. In Brazil, they accounted for 98% of cryptocurrency purchases in the first quarter of 2026, with the total volume of such purchases reaching $6.9 billion. In Argentina, over 70% of purchases on the Bitso platform were in USDT and USDC. In El Salvador, remittances in digital currencies reached $35.4 million in the first half of 2026, up 39.1% from a year earlier, but accounted for only 0.7% of all remittances to the country.
