Bitcoin surged back above $80,000 today, leading a broad crypto market recovery as total market capitalization approached $2.69 trillion. The move came amid a flurry of significant developments, including a key regulatory milestone and notable service disruptions at major platforms.
The Digital Asset Market CLARITY Act, a sweeping U.S. bill designed to impose stricter ethics and transparency rules on crypto firms, officially advanced toward a crucial vote by the Senate Banking Committee scheduled for May 14. Lawmakers have intensified debate over the legislation, which could reshape exchange operations and compliance standards nationally. The renewed momentum injected fresh regulatory clarity optimism into the market, helping lift sentiment.
Meanwhile, Coinbase suffered trading delays and system outages after a major Amazon Web Services (AWS) outage disrupted its exchange infrastructure. Users were unable to execute orders for a period, highlighting the industry's continued reliance on centralized cloud providers. In a separate incident, Revolut temporarily showed Bitcoin crashing from $80,000 to just $0.02 due to an app glitch, causing brief panic among retail users before the display error was corrected.
Institutional signals also captured attention: Strategy (formerly MicroStrategy), which holds nearly 3.9% of Bitcoin's total supply, indicated it might sell part of its holdings, a move that could significantly influence BTC liquidity and price if executed. Bitcoin, Ethereum, XRP, and Solana all recorded modest gains between 1% and 2% as the broader market stabilized after recent volatility.
