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Coinbase Global Inc COIN shares are surging Tuesday as Treasury Secretary Scott Bessent’s comments about the Clarity Act’s imminent passage ignited fresh optimism across the crypto market and sent Bitcoin climbing toward $67,000.
- Coinbase Global shares are climbing with conviction. Why is COIN stock surging?
Bessent Says Lawmakers Are at the ‘1-Yard Line’ on the Clarity Act
The spark came from Washington. Speaking publicly on Tuesday, Treasury Secretary Scott Bessent described Congress as being at the one-yard line on the Clarity Act, the long-anticipated digital asset market structure bill that has been grinding through the legislative process for months. Bessent pressed lawmakers to get it done before departing for recess, Bloomberg reported.
For a market that has spent much of the year absorbing the weight of regulatory ambiguity, the comments from a sitting Treasury Secretary carried real weight. Bitcoin (CRYPTO:BTC) climbed toward $67,000 in the hours that followed while Coinbase shares jumped more than 11%, a move that reflects how tightly the exchange’s business prospects are bound to the shape of the regulatory environment around it.
There is also chatter on social media that the White House has agreed on an ethics package for the Clarity Act, which may be helping drive bullish sentiment in the crypto space.
Critical Levels To Watch For Coinbase (COIN) Stock
From a trend standpoint, COIN has pushed back above its shorter‑term moving averages. The stock is trading 12.7% above the 20‑day SMA $158.74 and 4.6% above the 50‑day SMA $170.95, but it is still working to reclaim the longer‑term trend. Shares sit 0.8% below the 100‑day SMA $180.38 and 19.1% below the 200‑day SMA $221.00, which keeps the broader recovery unconfirmed.
Momentum is improving on the MACD. It is above its signal line and the histogram is positive, a setup that usually indicates fading downside pressure and growing traction for buyers compared with the prior downswing. Even so, the moving‑average structure remains mixed. The 20‑day SMA is below the 50‑day SMA, which is bearish, and the death cross created when the 50‑day fell below the 200‑day in December 2025 is still in place.
Key levels are clearly defined on the chart. Key Resistance is $213.50, a nearby ceiling where rebounds often stall and a zone that sits below the 200‑day SMA area that frequently acts as overhead supply in downtrends. Key Support is $148.00, a prior buyer‑defense level near the lower edge of the recent range and not far above the 52‑week low zone $139.18.
COIN Shares Are Flying
COIN Price Action: Coinbase shares were up 11.66% at $179.14 at the time of publication on Tuesday, according to Benzinga Pro.
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This article Coinbase Stock Soars as Bitcoin Rises on Clarity Act Momentum originally appeared on Benzinga.com.
