The Zhitong Finance App learned that on Friday, cryptocurrency concept stocks generally rose, Circle (CRCL.US) rose nearly 10%, Coinbase (COIN.US) rose 9%, Strategy (MSTR.US) rose more than 6%, Bitmine Immersion Technologies (BMNR.US) rose more than 5%, and SharpLink (SBET.US) and CleanSpark (CLSK.US) rose more than 4%.
According to the news, on August 21, the price of Bitcoin rose rapidly. Bitcoin once rose above 79,000 US dollars during the day, rising more than 8%. Ethereum surged above $2,400 during the day, up more than 3%. The CFTC chairman of the US Commodity Futures Trading Commission said that even if Congress fails to pass the CLARITY Act, the crypto industry will receive market structure rules, and the CFTC is evaluating multiple crypto rules and exploring new regulated crypto asset market platforms.
On Wednesday local time, US President Trump met with cryptocurrency industry executives at the White House and urged Congress to pass legislation on the structure of the cryptocurrency market as soon as possible. Trump also said he would consider the regulator's suggestions for further government acquisitions of Bitcoin.
“This is not a simple news market situation; it is a deliberate failure for a long time.” Sun Wei, a senior researcher at HashKey Group, said that during the turbulence of the past few months, the market has accumulated empty leveraged orders. When the price moved above $65,000, it was obvious that bears were crowded. It coincided with the recent announcement by the US Treasury Department to expand the scale of long-term treasury bond repurchases, relieving the upward pressure on long-term interest rates. At the same time, US President Trump once again released a policy signal supporting the crypto industry at the Technology Leaders Conference, superimposed the SEC (US Securities and Exchange Commission)'s introduction of new regulatory exemptions. The centralized release of multiple benefits directly triggered the bears to close their positions in a panic.