Bitcoin Surges to $120K as U.S. Lawmakers Advances GENIUS & Clarity Crypto Bills

Key Points

1. Bitcoin traded at $119,297 with a 1.36% intraday gain, influenced by the U.S. House's progress on crypto-related bills.

2. The GENIUS Stablecoin Bill seeks to create a regulatory framework for stablecoins in the U.S.

3. The Digital Asset Market Clarity Act (Clarity Act) aims to provide comprehensive regulation for digital assets under the SEC and CFTC.

4. A third bill aims to prevent the Federal Reserve from issuing a CBDC without congressional approval.

5. Bitcoin's price recovery faces resistance at the all-time high of $123,236, with potential for a pullback to $118,437 if the resistance holds.