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Bitcoin surged above $78,000 as the U.S. Senate passed the Clarity Act, a regulatory framework aimed at clarifying digital asset taxation and compliance. The bill, which addresses yield-generating crypto assets, is seen as a major step toward institutional adoption. Simultaneously, the S&P 500 hit a record high, driven by strong earnings and optimism around the U.S. economic outlook. The Clarity Act's passage reduces regulatory uncertainty, potentially attracting more institutional capital into crypto markets. For traders, Bitcoin's breakout above key resistance levels and the S&P 500's momentum signal a bullish trend in risk-on assets. The approval of the Clarity Act could accelerate crypto integration into traditional finance, with further price action likely dependent on the bill's implementation timeline and global regulatory responses. Investors should monitor Bitcoin's ability to sustain above $75,000 and the Federal Reserve's stance on digital assets in upcoming meetings.
