Bitcoin is trading at $69,554 as of the morning of August 20, having gained 7.67% in the last 24 hours. After rising as high as $70,055 during the day, BTC encountered resistance at this level and retreated slightly. The 24-hour trading volume is 15,470 BTC, and the total trading volume has exceeded 1.05 billion USDT.

The main driving force behind the rise was President Trump's statements following a crypto summit held at the White House. Trump stated that the US is "considering buying a significant amount of Bitcoin" and called on Congress to pass the CLARITY Act. These statements were interpreted by the markets as one of the most positive crypto policy signals in years.

The US government currently holds 328,372 BTC, with a market value of approximately $215 billion. The executive order signed by Trump in March prohibits the government from selling the seized Bitcoin but does not commit to active purchases. The President's recent statements suggest a possible change in this policy.

The SRL(5,5) indicator is at $82.828, showing a 9.69% weekly increase. The last 30 days are in positive territory with a 4.74% increase, but the 90-day performance is still in negative territory with a -8.46% decrease.

For Gate users, the next critical development will be the progress of the CLARITY Act in the Senate. While the bill is expected to be voted on in September, any new statements from the White House could trigger price movements. The $70,000 level stands out as a psychological and technical resistance point; maintaining a position above this level is critical for the continuation of the uptrend, otherwise a pullback to the $64,000 region may occur.
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