Macro News: BlackRock, Strategy Back Bitcoin Strength as Crypto Flows Track CLARITY Act News

Bitcoin attempted a bullish trend reversal, with a final push on the CLARITY Act and multi-billion dollar ETF inflows driving BTC price close to $80,000.

Cryptocurrency prices last week moved in tandem with investor sentiment, which has been rising across the industry since early March.

On Capitol Hill, pro-crypto statements by Federal Reserve nominee Kevin Warsh and reports of further progress on the CLARITY Act helped

. The positive news fueled the narrative that regulatory clarity would open the floodgates for additional institutional capital.

Weekly Recap

• Bitcoin (BTC) and Ether (ETH) added to their weekly gains after US President Donald Trump extended the US ceasefire with Iran, and Israel and Lebanon agreed to a three-week extension of their current ceasefire.
• Fed chair nominee Kevin Warsh said, “Digital assets are already part of the fabric of our financial services industry” in response to Senator Cynthia Lummis’ question about integrating digital assets into the US financial system.
• The Blockchain Association and the Crypto Council for Innovation, along with “a broad coalition of more than 120 organizations across the digital asset ecosystem,” issued a formal statement urging the Senate Banking Committee to mark up the CLARITY Act. Following the statement, Senator Lummis said: