Bitcoin showed limited movement on Thursday, holding under the recent highs it reached in late August as investors awaited a clutch of regulatory milestones in the United States and monitored wider macro and geopolitical headwinds.
By 02:01 ET (06:01 GMT), Bitcoin was up 0.2% at $77,759.4, having climbed as high as about $82,000 toward the end of August before paring some gains. Recent accumulation by a major corporate holder, Strategy Inc (NASDAQ:MSTR), and market hopes for clearer U.S. regulation have helped the largest crypto retain much of its rally this summer. Still, caution linked to both geopolitical tensions in the Middle East and elevated expectations for interest-rate increases has kept appetite for crypto investments subdued following a strong August.
U.S. regulatory timeline in focus
U.S. Securities and Exchange Commission Chair Paul Atkins said earlier in the week he expects the Senate to conduct a key procedural vote on the Clarity Act on September 15. Atkins further indicated he believed the legislation, which is intended to create a regulatory framework for crypto in the United States, was likely to reach President Donald Trump’s desk within the month.
Atkins also said the SEC has been preparing a parallel regulatory proposal, the Regulation Crypto Assets proposal, which could operate alongside the bill. He asserted that the agency could move forward with its own framework even if Congress does not pass the Clarity Act.
"The Regulation Crypto Assets proposal is our most historic step yet to cement America as the Crypto Capital of the World - and is consonant with our belief that Congress should send the CLARITY Act to the President’s desk," Atkins said in a Fox Business interview.
Market participants have followed the Clarity Act closely as a potential milestone for regulatory certainty. Progress has been delayed by continuing disagreements over how the bill would treat stablecoin yield payments and by provisions concerning restrictions on policymakers trading in crypto markets.
Macro and geopolitical pressures
Beyond regulation, broader crypto prices moved in a relatively narrow range as investors weighed two main external pressures. Iran launched fresh strikes against U.S. bases in Kuwait late on Wednesday, and media reports indicated that President Trump was considering steps to temper the ongoing conflict with Tehran. At the same time, expectations that major central banks may lift interest rates have hardened.
Markets continued to price in a likely Federal Reserve interest-rate increase in September following recent hawkish comments from Chair Kevin Warsh. Similar bets on a potential Bank of Japan rate hike gained traction after Governor Kazuo Ueda said the BOJ would discuss a rate increase at its September meeting. Those prospects for tighter monetary policy in developed economies have weighed on investor enthusiasm for speculative assets.
Altcoins and market breadth
Ether, the world’s second-largest cryptocurrency, fell 0.7% to $2,404.84. XRP gained 1.6% on the day. Cardano outperformed with a 4% advance, while Solana added 0.8% and BNB rose 1.2%. Among memecoins, Dogecoin climbed 1.4%, while the token $TRUMP declined 1%.
Reporting note: Prices and movements cited reflect the market snapshot reported for the period noted above.