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 $72,383.99 and its highest level since June 1. The move brings its two-day gain to 12%. Earlier this week, it traded at the $63,000 level.

Crypto stocks followed suit, with Coinbase and Circle up around 7% each along with Strategy, building on their rallies from the prior session.

The rally began Wednesday when Treasury yields pulled back sharply, easing pressure on risk assets. That helped trigger a…