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Economy
Bitcoin crossed $80,000 on renewed risk appetite and a US Senate committee hearing on a new digital assets bill.
Bitcoin traded above the $80,000 threshold on Tuesday, rising 0.54% to $80,690 as a wave of risk appetite swept through markets and legislative momentum for digital assets picked up in Washington. The price move came as the US Senate Banking Committee scheduled a hearing on the "CLARITY Act," a bill designed to create a clear regulatory framework for digital assets.
According to a report from CoinDesk, the crypto industry welcomed the announcement, viewing the proposed legislation as a path toward institutional innovation and greater legal certainty for the sector. The bill aims to ease tensions between traditional banks and crypto firms, potentially paving the way for more integrated financial products.
In emerging economies, cryptocurrencies are increasingly functioning as banking tools. Officials noted that users now treat trading platforms as banking applications, using them to hedge against volatile local currencies and access global financial services. They emphasized that users want digital assets to move beyond their traditional role as a store of value and become a tool for daily transactions.
Despite the bullish sentiment, a report from Project Eleven warned of future technical challenges related to quantum computing. The report cautioned that current encryption standards could become vulnerable to hacking as advanced computing capabilities evolve.
On the corporate side, Trump Media & Technology Group posted quarterly losses that widened to $406 million, driven by significant write-downs on its Bitcoin and cryptocurrency holdings. The results highlighted ongoing financial pressure on some companies tied to the sector.
Investors are now focused on the legislative progress in Washington. Supporters of the CLARITY bill believe its passage could reduce friction between traditional banks and the crypto industry, opening the door to more integrated financial products. The outcome of the upcoming hearings is expected to shape the pace of digital asset adoption for the remainder of 2026.
Among other major cryptocurrencies, Ethereum rose 0.58% to $2,328.08, while XRP fell 0.23% to $1.4205. Solana and Cardano dropped 0.30% and 1.59%, respectively, and Dogecoin declined 1.51%.
