Bitcoin Holds Near $78K After CLARITY Act Clears Senate Committee

Bitcoin trades near $77,854 after pulling back from May highs above $81,000. The rally began with Tom Lee's January call for a new all-time high, accelerated through strong spot ETF inflows totaling $3.43 billion over seven weeks, and institutional buying that absorbed five times daily mined supply. Price briefly reclaimed $81,000 amid CLARITY Act optimism and S&P 500 records before consolidating. The Senate Banking Committee approved the CLARITY Act 15-9 on May 14, lifting regulatory clarity prospects, while Grok AI extended the bullish case to $150,000-$200,000 by end-2026.