Bitcoin rises as stocks and gold fall after Clarity Act update

Bitcoin and Ethereum are outperforming traditional markets on Monday after it emerged that Trump has agreed to ethics provisions in a major crypto bill that is heading to a vote. While the S&P 500 and Nasdaq fall and gold and silver lose significant ground, Bitcoin and Ethereum rise around 1%. The move points to capital anticipating a positive outcome from the vote.

Bitcoin is available at OKX and Bybit.

In brief:

• Trump agrees to ethics provisions in the Clarity Act, including the requirement to divest crypto interests or place them in a blind trust.
• Bitcoin and Ethereum rise around 1%, while the S&P 500, Nasdaq, gold and silver fall.
• Market analysts warn that a negative vote outcome could also hit prices hard.

Trump agrees to crypto ethics rules in new bill

According to the AP news agency, Trump has agreed to a bipartisan ethics provision in a wide-ranging crypto bill. The updated version of the Clarity Act requires involved parties to divest crypto interests or place them in a blind trust. The bill now goes to a vote.

The announcement comes on a Monday when the broad financial markets are under pressure. The oil price rises sharply, the S&P 500 loses 0.26%, the Nasdaq falls 0.63%, gold loses 1.31% and silver even 2.34%.

Crypto anticipates positive vote outcome

Analyst Daan from the crypto community sees a clear pattern in the price movements.

According to him, capital is active that wants to get ahead of a positive vote outcome, which explains the relatively strong performance of Bitcoin and Ethereum. At the same time, he points out that a negative outcome could have the opposite effect on prices.

At the time of writing, Bitcoin trades around $78K, up almost 1% from the opening price. Ethereum shows a similar move. The upcoming vote on the Clarity Act therefore remains an important factor to watch.