Bitcoin Holds Steady Below $78k Amid US Regulatory Uncertainty

Bitcoin (BTC) stabilized around $77,759.4 on Thursday, holding steady below recent peaks as markets await further regulatory developments in the United States.

The cryptocurrency's price remained relatively flat after a 0.2% increase, despite earlier highs of $82,000 in late-August.

U.S.-Iran conflict tensions and growing expectations for interest rate hikes kept appetite for crypto assets subdued, particularly following August's positive momentum.

However, recent buying activity from top corporate holder Strategy Inc (no ticker provided) and hopes for more U.S. regulation helped Bitcoin retain a bulk of its gains.

U.S. Securities and Exchange Commission Chair Paul Atkins stated that he expects the Senate to hold a key procedural vote on the Clarity Act on September 15, which aims to establish a regulatory framework for crypto in the U.S.

In a Fox Business interview, Atkins also mentioned that the SEC is preparing its own regulatory framework, the Regulation Crypto Assets proposal, which could function alongside the Clarity Act.