US Crypto Market Today: Bitcoin Holds Near $78K as Treasury Pushes Senate on Regulation

Crypto markets in the United States are caught between two competing forces today: a fresh political push for regulatory clarity and a cautious pullback in prices ahead of key inflation data. Here's what's shaping the conversation.

Treasury Secretary Urges Senate to Pass the CLARITY Act

Treasury Secretary Scott Bessent has publicly called on the Senate to advance the CLARITY Act as soon as lawmakers return from recess, warning that continued inaction would signal that the United States is unwilling to lead in the digital asset space. The bill, which aims to establish a clear regulatory framework dividing oversight of digital assets between the SEC and the CFTC, has already cleared the House earlier this year but remains stalled in the Senate.

Bessent's comments add fresh momentum to an issue that has repeatedly stalled in Washington despite broad industry support. Market participants have long argued that the absence of a unified federal framework pushes innovation and trading activity offshore, a point echoed in related litigation this week, including an amicus brief filed in CME v. Selig urging a federal court to dismiss a lawsuit challenging the CFTC's authority over perpetual futures trading in the US.

Bitcoin Holds Near $78,000 as CPI Volatility Looms

While Washington debates policy, traders are watching price action closely. Bitcoin was trading near $78,000 today, down roughly 1% over 24 hours, with resistance forming in the $80,000–$82,000 range. The broader crypto market capitalization slipped 0.9% to $2.76 trillion, according to data recorded by CoinGecko, even as overall sentiment remained in "Greed" territory.

Analysts point to upcoming US inflation data as the key near-term catalyst. More than 71% of Bitcoin's circulating supply currently sits in profit, and US spot Bitcoin ETFs have continued to see positive flows despite the pullback — a sign that longer-term holders and institutional buyers are not rushing for the exits even as short-term traders stay cautious.

What It Means for the Market

Together, these two threads point to a market in a holding pattern: regulatory momentum is building in Washington, which could remove a major overhang for institutional adoption, while short-term price action remains hostage to macroeconomic data. For investors, the combination suggests that near-term volatility around CPI releases is likely to persist, even as the medium-term regulatory backdrop in the US continues to improve.