Core Insights - Bitcoin is poised for a new price record this year, contingent on three key factors being met [1][2] Group 1: Current Market Conditions - Bitcoin has surged 5% this week, reaching approximately $96,000 [2] - The October 10 flash crash, which resulted in a $1.4 trillion loss in crypto markets, has concluded, allowing Bitcoin to reset and rebuild momentum [3] Group 2: Legislative Developments - The passage of the Clarity Act is a crucial second factor, which will determine the regulatory framework for crypto markets, specifically whether the SEC or CFTC will oversee them [4] - The Clarity Act includes provisions that ban stablecoin issuers from paying passive yield, while allowing crypto companies to offer rewards for transactions and DeFi liquidity [5] - The bill also expands Treasury's surveillance powers significantly, allowing the freezing of crypto transactions for up to 30 days without a court order, which has raised concerns among industry experts [6] Group 3: Market Correlation - Bitcoin's performance is increasingly correlated with the broader stock market; it tends to follow the trends of risk assets, rallying when equities do well and declining during sell-offs [7]