Bitcoin experienced a significant price surge, climbing above the $120,000 mark after the U.S. House of Representatives passed three major crypto-related bills.
The legislative package includes the CLARITY Act, the GENIUS Act, and the Anti-CBDC Act. Industry anticipation is particularly high for the GENIUS Act, which is expected to receive presidential approval. The CLARITY Act and Anti-CBDC bill now move to the Senate for further review.
Market data indicated Bitcoin reached approximately $120,326 USDT during this rally, approaching its previous peak near $121,800. Analysts noted $116,300 as a crucial support level.
This legislative progress has injected strong bullish momentum into the broader cryptocurrency market, driving the significant price appreciation observed in Bitcoin.