Bitcoin Rallies to $77,200 — Senate Votes to Curb Trump's War Powers
By John Nada·May 20, 2026·2 min read
Bitcoin climbed to $77,200 as the Senate voted to limit Trump's war powers, spurring market optimism.
Bitcoin surged to $77,200 as the U.S. Senate voted to curtail President Donald Trump's authority to wage war against Iran. This significant legislative move, which passed with a narrow 50-47 vote, came after seven unsuccessful attempts. The vote injected a sense of relief into global markets that were previously burdened by geopolitical tensions and uncertainty. As CoinDesk reports, XRP, Ethereum, and Solana also joined Bitcoin's upward march, rising between 0.4% and 0.8%, following a sharp five-day decline.
The crypto market's buoyancy was not solely tied to the Senate's decision. President Trump directed the Federal Reserve to re-evaluate depository institutions' access to payment services, a directive that has important implications for the cryptocurrency industry. Access to payment rails has long been a hurdle for the crypto sector, which has struggled to secure stable banking relationships and integrate fully with traditional financial systems. Naeem Aslam from Zaye Capital Markets highlighted that broader access to payment rails could enhance institutional confidence, increase liquidity, and improve settlement efficiency.
$1.67 Billion Pulled from Crypto Funds—Bitcoin Leads Outflows
Crypto funds see $1.
Traditional assets mirrored the optimism seen in the crypto market. U.S. Treasury yields dropped slightly as yields on the 10- and two-year Treasury notes fell by over two basis points each. This drop indicated a shift towards risk-on sentiment, which was further evidenced by Nasdaq futures ticking up 0.33%. WTI crude futures also slid 0.75% to $103.42, providing additional support for the crypto market's rebound.
Looking ahead, market participants are keenly awaiting the April Federal Reserve meeting minutes, scheduled for release at 18:00 UTC. Analysts, such as Dessislava Ianeva from Nexo, are particularly interested in how the Fed plans to balance inflation concerns against growth risks. The minutes are expected to provide insights into the Fed's approach to persistently above-target inflation and its implications for future economic policies.