Bitcoin Price Shrugs Off Clarity Act Fail, Blasts Past $86,000

Bitcoin price surged past $86,000, achieving a 6% daily gain and pushing its market capitalization to $1.72 trillion. This rally, driven by a massive short squeeze, occurred despite the failure of key crypto legislation known as the Clarity Act. The price action brought the asset close to its January 1 opening price of $87,575, effectively narrowing year-to-date losses to under 2%. The surge demonstrates the asset's resilience against legislative setbacks in the current market.