Trump nudges CLARITY Act, bitcoin surges in response

00:00 Scott Melker

Bitcoin had a monster day yesterday, rising from the range that it's been trading in and breaking well above $70,000, leaving many wondering what possibly happened. I'm going to break that down for you today and cover all the news that's driving crypto prices up. Let's go.

00:25 Scott Melker

What is up everybody? Welcome to the Daily Wolf on Yahoo Finance. I'm your host Scott Melker, also known as The Wolf of All Streets and it feels like it's been 87 years. I don't know how many years the Titanic lady says. 84 years, 82, 87. It's been a long time since we've actually been able to talk about bullish price action and Bitcoin, but here we are. Now, first, before we dive into exactly what happened, you may know, I'll take a very slight victory lap even though, uh, it's it's premature. But that's a thing.

01:21 Scott Melker

I've been saying that Bitcoin is likely bottoming and likely to make a move to the upside, literally since February, but certainly all summer as we've been here in the doldrums. I've done full shows here on it. I literally did an entire YouTube show on it on my 9:00 a.m. show, talking about all the signals that we had for a bottom. Now, I I've listed them all before, obviously. Technical analysis showed that a likely bottom was here. Sentiment showed that a likely bottom, sailor selling, that a likely bottom. We had things across the board. I mean Monday we talked about massive open interest with price flat and all the reasons that we were going to see volatility returning. Now, as I was on my show this morning, my team sent me a video that someone made of me doing all those bottom calls, which I'll show you right here.