Bitcoin surged above $72,000 after a combination of political support, growing institutional interest, and renewed optimism across the crypto market boosted investor confidence.
The rally gained momentum after President Donald Trump once again urged Congress to pass the Clarity Act, a proposed bill aimed at creating a clearer regulatory framework for the cryptocurrency industry in the United States. Many investors see the legislation as a major step toward giving the industry more certainty and encouraging wider adoption.
Erald Ghoos, CEO of OKX Europe, said the market may have already found its bottom and believes money that previously flowed into AI and semiconductor stocks is beginning to return to cryptocurrencies.
According to Ghoos, stronger regulations in the U.S. and Europe, growing institutional participation, and easier access to decentralized finance are creating the conditions for broader crypto adoption.
He said that if the Clarity Act becomes law, it could strengthen confidence in digital assets not only in the United States but also around the world. In his view, regulatory clarity is helping build a stronger foundation for the industry rather than holding it back.
Not everyone agrees, however. Haider Rafique, OKX’s global managing partner, recently argued that much of the optimism surrounding the proposed legislation may already be reflected in Bitcoin’s current price.
Ghoos remains confident that capital will continue flowing back into digital assets. He believes many investors who chased opportunities in AI, semiconductor companies, and other high-growth sectors are now looking again at cryptocurrencies as a potential source of returns.
The shift comes as some AI-related stocks have started losing momentum after dominating markets earlier this year. At the same time, Bitcoin and other cryptocurrencies have shown signs of renewed strength.
While retail trading activity has slowed in some markets, Ghoos believes retail investors have not abandoned crypto. Instead, he says they are following market trends and could return as prices continue to rise.
He also pointed to strong growth in Europe, noting that OKX saw a significant increase in app downloads after Binance stopped serving customers in the European Union due to licensing issues.
With Bitcoin reaching new highs and investor confidence improving, many market participants are watching closely to see whether the latest rally marks the beginning of a stronger recovery for the crypto market.
