Coinbase Gains 6.5% as Bitcoin Tops $80,000 and CLARITY Act Markup Set
Coinbase shares jumped 6.5% following Bitcoin’s surge past $80,000 and confirmation of a CLARITY Act markup on May 7, easing regulatory uncertainty. Call/put volume ratio hit 2.35, short interest stands at 11.5% of float and volatility score reached 98, suggesting strong bullish momentum.
1. Stock Rally Drivers
Coinbase shares jumped 6.5% as Bitcoin climbed past $80,000 and advancement of the CLARITY Act removed regulatory uncertainty, fueling renewed investor interest ahead of first-quarter results.
2. Technical Indicators and Options Activity
The 50-day call/put volume ratio surged to 2.35, overall volatility score reached 98 out of 100, and short interest represents 11.5% of the float, indicating strong bullish sentiment and potential for further short covering.
3. Regulatory and Legislative Outlook
Lawmakers scheduled a bipartisan markup of the CLARITY Act for May 7, which could establish clearer rules for digital assets and support Coinbase’s core exchange and depository services.