Bitcoin has surpassed the $86,000 threshold, reaching a peak of $86,247 on Monday morning in New York. The asset recorded a 7% increase over a 24-hour period and a 10% gain over the last 30 days, despite the recent failure of the Clarity Act in Congress.
The legislative proposal, which aimed to establish a regulatory framework for the digital asset market, was blocked by both Republican and Democratic lawmakers. Opposition from Democrats focused on potential conflicts of interest regarding the crypto holdings of the Trump family, which were reported at approximately $1.4 billion.
Despite the legislative setback, the Securities and Exchange Commission and the Commodity Futures Trading Commission continue their rulemaking processes. Additionally, U.S. Bitcoin exchange-traded funds saw a recovery in net flows, with investors purchasing nearly $593 million in shares from BlackRock, Fidelity, and Grayscale on Thursday and Friday.
The Federal Reserve also implemented an expected interest rate hike last week, which did not negatively impact the price of Bitcoin. The current market momentum follows a trend that began in August, supported by the U.S. Treasury's decision to expand its liquidity-support buyback operations.
