Bitcoin above $78,000 as Senate clears Clarity Act yield hurdle, S&P 500 sets new record
Bitcoin rebounded to above $78,000 after a midweek dip, supported by easing geopolitical tensions and a Senate compromise on crypto legislation. U.S. equities reached record highs, driven by strong earnings from major tech companies like Apple and Oracle. The Clarity Act compromise paves the way for regulatory clarity on stablecoin yields, though broader market direction remains uncertain pending macroeconomic catalysts.
- ▪Bitcoin traded at $78,180 in Asian hours on Saturday, recovering from a Wednesday low near $75,500 amid Iran escalation concerns.
- ▪The S&P 500 closed at an all-time high, marking its fifth consecutive weekly gain, fueled by strong tech earnings.
- ▪The Senate released compromise language on the Clarity Act, banning yield on stablecoin reserves but preserving activity-based rewards.
- ▪Treasury and the CFTC will have one year after the bill becomes law to establish detailed rules on crypto yield products.
- ▪Coinbase supported the Clarity Act compromise, with its Chief Legal Officer stating it aligns with the intent of preserving real platform participation incentives.
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MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitcoin above $78,000 as Senate clears Clarity Act yield hurdle, S&P 500 sets new recordBitcoin recovered from a midweek dip to $75,500 to climb back above $78,000 by Saturday morning in Asia, with the Senate's stablecoin yield compromise removing a key roadblock to crypto market structure legislation.By Shaurya Malwa May 2, 2026, 6:49 a.m. 3 min readMake preferred on What to know: Bitcoin hovered near $78,000 after rebounding from midweek Iran-related jitters, as traders awaited a clearer macroeconomic catalyst to push it decisively higher.U.S.
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