Bitcoin Steady Below $78k as Markets Await US Regulatory Developments

Bitcoin has been steady below $78k as markets await key U.S. regulatory developments.

The conflict between the U.S. and Iran, along with growing expectations for interest rate hikes in developed countries, have kept overall appetite for crypto subdued.

Despite this, Bitcoin rose 0.2% to $77,759.4 by 02:01 ET (06:01 GMT), but it had risen as high as $82,000 in late-August before tempering some gains.

SEC Chair PAul Atkins 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.

Atkins also stated that the SEC is preparing its own regulatory framework, the Regulation Crypto Assets proposal, which could function beside the long-delayed legislation.