Bitcoin News: Debt Hedge Case Meets Senate Roadblocks for CLARITY Act

U.S. fiscal concerns and digital-asset legislation news have emerged as separate forces in the Bitcoin market. Senator Cynthia Lummis has linked Bitcoin to the country’s $39.2 trillion national debt.

Now, the Digital Asset Market CLARITY Act remains subject to significant procedural and policy hurdles in the Senate.Bitcoin posted a 22% weekly gain after Treasury yields fell following a Treasury intervention in the bond market.

The move into crypto was later amplified by a short squeeze, with CoinGlass data showing $2.7 billion in crypto short positions liquidated.

$2.7 BILLION IN CRYPTO SHORTS JUST GOT WIPED OUT.Bears got caught on the wrong side of the trade.Liquidations are accelerating.Momentum is shifting.And the crypto market just sent a loud warning:Never underestimate what happens when shorts get trapped.