TLDR
- Bitcoin crossed $73,000, its highest price in about a month, gaining over 7.6% in 24 hours
- Coinbase stock rose roughly 15%, while Strategy gained about 11.5% on Bitcoin exposure
- Trump publicly backed crypto dominance and pushed Congress on the CLARITY Act
- The SEC and CFTC both filed regulatory reviews related to crypto oversight
- Analysts warn the rally could reverse quickly if regulatory progress stalls or Bitcoin falls
Crypto stocks and digital assets moved sharply higher on Wednesday after US President Donald Trump voiced support for crypto legislation and regulators signaled a shift in their approach to the industry.
Bitcoin climbed above $73,000 for the first time in about a month, up over 7.6% in 24 hours. Ether also rose more than 8.3%, trading around $2,132.
Coinbase stock gained roughly 15% during the session, trading near $209. Strategy, the largest public Bitcoin treasury holder, rose about 11.5%. Miners also posted gains, with Hut 8 up 13.89% and American Bitcoin Corp rising 11.65%.
Circle’s stock traded at $102.10, up 2.51%, after the company reported fourth-quarter earnings per share of $0.43, beating the estimate of $0.35. Circle also reported quarterly revenues of $770 million.
Robinhood’s stock rose 8.31%, trading near $82.38. Ethereum treasury company Bitmine’s stock gained over 9% as Ether touched highs above $2,100.
Ark Invest bought roughly $4 million in Coinbase stock and $12 million in Robinhood stock on Tuesday, during a period of market uncertainty.
Strategy currently holds 713,502 Bitcoin at a cost basis of about $54.26 billion. Despite Wednesday’s gains, Coinbase stock is still down about 31.79% over the past six months.
Trump’s Comments and the CLARITY Act
At a White House press conference, Trump said the US wants to be “dominant” in crypto. He also pushed the Senate to pass the crypto market structure bill known as the CLARITY Act and criticized banks for moving slowly on it.
Dominick John, an analyst at Zeus Research, told Cointelegraph that regulatory clarity is a key driver. He pointed to the CLARITY Act, spot ETF inflows, and the executive branch’s support for a digital asset framework as factors lifting crypto stocks.
Pav Hundal, lead analyst at Swyftx, said the market is pricing in a policy premium right now. He described Coinbase as the clearest large-cap expression of crypto policy optimism in US equities.
Regulators Move on Crypto Rules
The SEC filed a pending application on Tuesday relating to federal securities laws and how they govern certain crypto transactions. The CFTC also filed a regulatory review for prediction markets.
These actions were seen by analysts as steps toward a clearer regulatory framework for digital assets in the US.
Hundal cautioned that the rally is built on expectations of political progress. He said a slowdown in the regulatory process, a stall in the CLARITY Act, or a drop in Bitcoin could quickly reverse the gains in crypto stocks.
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