Bitcoin News Today: U.S. House Passes Three Crypto Bills Bitcoin Surges 12.3%

The U.S. House of Representatives has made a significant move in the realm of cryptocurrency regulation by passing three key bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance Act. This legislative action is a pivotal step forward in establishing a clearer regulatory framework for digital assets in the United States. The GENIUS Act, in particular, is anticipated to be signed into law by the , further cementing the U.S.'s stance on digital assets. The CLARITY Act and the Anti-CBDC Act will now proceed to the Senate for further review and potential enactment.

According to Bitunix analysts, the passage of these bills has injected a sense of policy confidence into the overall market. This development is expected to garner further mainstream support for the cryptocurrency market, helping to sustain its bullish momentum. Following the news, Bitcoin experienced a notable rise, currently trading at $120,326 USDT, surpassing its previous range high. Analysts have identified a dense short liquidation potential clearing zone above $121,800, which is seen as a potential short-term target area. The key support level below is concentrated around $116,300, and if a retracement holds above this level, it can be interpreted as a bullish defense line.

The passage of these bills is a clear indication of the U.S. government's increasing recognition of the importance of cryptocurrencies and digital assets. The CLARITY Act aims to provide clarity on the regulatory treatment of digital assets, while the GENIUS Act focuses on fostering innovation and competition in the digital asset space. The Anti-CBDC Surveillance Act, on the other hand, seeks to prevent the misuse of central bank digital currencies for surveillance purposes. These legislative actions are expected to have a positive impact on the cryptocurrency market, as they provide a more stable and predictable regulatory environment for digital assets.

Bitunix analysts have also noted that the current price movement of Bitcoin suggests that there is still upside potential in the short term. The break above the previous resistance zone indicates that the market is bullish, and the clearing of the short liquidation potential zone above $121,800 could pave the way for further price appreciation. However, it is important to note that the market is still subject to volatility, and investors should exercise caution when making investment decisions. The key support level around $116,300 will be crucial in determining the short-term direction of the market, and a retracement that holds above this level would be a positive sign for bulls.