Bitcoin is back above $78K and the S&P 500 is at new highs. The catalyst: Senate cleared the CLARITY Act's yield hurdle — the biggest remaining roadblock to comprehensive crypto legislation.
The compromise lets stablecoins operate normally but blocks bank-like yield products. Crypto industry backed it, pushing Senate Banking toward markup. Not perfect, but legislative progress beats regulatory limbo.
The $78K level matters. It's where BTC stalled multiple times in Q1. Breaking through with S&P 500 at all-time highs suggests the risk-on environment is broadening — not just crypto-specific momentum.