Bitcoin rose 16.66% in two days, its market cap rebounded to $1.5 trillion, and the broader cryptocurrency market continues to recover.

According to HTX market data, Bitcoin has surged sharply for two consecutive days, with a cumulative gain of 16.66%, bringing its market capitalization back to $1.5 trillion. The broader cryptocurrency market has rebounded. Following a flurry of positive remarks on the crypto sector from US President Trump this Wednesday, the first meeting of the US Commodity Futures Trading Commission (CFTC) Innovation Advisory Committee was held this Thursday, with numerous crypto giants and executives in attendance, whose remarks further boosted the market. Meanwhile, CFTC Chairman Michael Selig stated that even if the US Congress fails to pass the Crypto Market Structure Act (the Clarity Act), the crypto industry will still obtain market structure regulatory rules. Selig noted that the CFTC can establish a market regulatory framework either by formulating rules or promoting legislation. He added that the CFTC is currently evaluating multiple crypto regulatory proposals, but will continue to monitor the progress of the Clarity Act. The bill is currently stalled in the US Senate, with a procedural vote expected in mid-September, though it remains uncertain whether it can secure enough votes ahead of the US midterm elections. Selig said legislation is "the most reliable approach," but the CFTC already holds substantial regulatory authority under existing laws. If Congress ultimately fails to pass the relevant bill, the CFTC will leverage its existing authority to enact regulatory rules.