Bitcoin Consolidates After Strong Run — Market Talk

Bitcoin edges marginally lower as it appears to be consolidating after a strong run since the start of the month, Trade Nation's David Morrison says in a note. Bitcoin has been supported by renewed institutional demand and has made gains even as the dollar resumed its rally on safe-haven demand as U.S.-Iran hostilities escalate, he says. In another boost to cryptocurrencies, U.S. Treasury Secretary Scott Bessent said Tuesday the Clarity Act digital assets regulation bill is on the "one-yard line" for passage in the Senate. Bitcoin falls 0.5% to $66,027 but stays near the five-week high of $66,919 reached on Tuesday, LSEG data show. ([email protected])