Bitcoin slips to $77,800 as Senate Clarity Act vote nears and oil prices climb
Bitcoin prices have retreated to $77,800 amid uncertainty surrounding the Digital Asset Market Clarity Act and rising oil prices. The Senate is set to vote on the legislation, which aims to clarify regulatory oversight between the SEC and CFTC.
Why it matters
Regulatory clarity is a major factor for institutional adoption of cryptocurrencies, and legislative delays continue to create market volatility.
The leading cryptocurrency by market value has pulled back to trade near $77,800, having hit a highs above $79,000 on Monday, according to data source CoinDesk. Other majors, such as XRP (XRP), ether ETH $ 2,510.26 , and solana (SOL) are seeing similar trends. Payments-focused XRP has pulled back to $1.42 from the high of $1.49, but still appeared on track to form a bullish golden crossover.
The retreat followed reports that Democrats were still seeking additional changes to the Digital Asset Market Clarity Act, despite President Trump’s reported agreement to revised ethics language in a Senate draft that Republicans circulated over the weekend and described as a final compromise.
“The Democrats want more,” Sen. Cynthia Lummis, the Wyoming Republican who’s been the bill’s most visible champion said. “They always want more. If we waited another month, they would want more.”“There’s no end to it,” Lummis said.
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