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Bitcoin is trading at its highest levels since June thanks largely to a last-ditch push from the White House and crypto industry leaders to get the Clarity Act across the finish line in the coming weeks.

The price of bitcoin

rose more than 5% on Thursday to just below $72,000 and its highest level since June 1. The move brings its two-day gain to more than 11%. Earlier this week, it traded at the $63,000 level.

Crypto stocks followed suit, with Coinbase