Bitcoin crossed $71,000 Thursday morning for the first time since June, touching $71,970.80 at 6:15 a.m. Eastern, up nearly 12 percent from $64,339 two days earlier. It remains down about 37 percent from a year ago. [1]

The stated catalyst was Wednesday's White House event, where President Trump stood before executives from Coinbase, Gemini, Ripple, and Chainlink Labs and told Congress to pass "a fair version" of the Digital Asset Market Clarity Act. Congress needs to "take the next step," he said. The gathering previewed the CFTC's first Innovation Advisory Committee meeting on Thursday. [2] [3]

The actual catalyst is a calendar. The House passed the bill 294-134 in July 2025. Senate Banking advanced it 15-9 on May 14. On June 1 the Senate placed it on the Legislative Calendar as Calendar No. 423, where it has sat through a stalled summer while traders marked dates. The bill needs 60 votes; Republicans hold 53. A procedural vote is expected around September 15. [4] [5]

Traders are buying the vote count, not the ideology. Strategy rose 10 percent premarket; Coinbase and MARA gained about 6 percent. Ether reached its highest level since May 12, Solana its highest since May 16. [1] If seven Democrats never cross, the calendar takes the gain back. The bill has been one procedural vote away from nothing since June.

-- SAMUEL CRANE, Washington