Bitcoin traded little changed near $78,676 on Thursday, consolidating after reaching as high as $82,000 earlier in the week. The cryptocurrency’s recent gains have been tempered by regulatory uncertainty in the U.S. and ongoing geopolitical risks in the Middle East.
Ether rose 1.2% to $2,489.88, while solana surged 4.7%. In contrast, XRP fell 2.3%, cardano dipped 0.3%, and the $TRUMP memecoin declined 2%. BNB added 1.1%, reflecting mixed sentiment across the sector.
U.S. regulatory developments continue to influence market sentiment. President Donald Trump called for stricter crypto regulations last week, and the Securities and Exchange Commission is reportedly advancing rules on crypto custody services. Meanwhile, the proposed Clarity Act, aimed at establishing a broader regulatory framework for digital assets, remains stalled in Congress.
Geopolitical tensions in the Middle East also weighed on risk appetite. Reports of a potential ceasefire deal between Iran and Oman regarding commercial shipping routes through the Strait of Hormuz contributed to a decline in oil prices. However, broader concerns over the U.S.-Iran conflict persisted, keeping markets cautious.
Inflation data released last month showed the U.S. Personal Consumption Expenditures price index remained steady in July, holding well above the Federal Reserve’s 2% annual target. The central bank’s September meeting is now a focal point for investors, as policymakers weigh the path forward for interest rates.
Capital flows have also been influenced by strong earnings and guidance from AI chipmaker Nvidia, which has drawn investor attention away from speculative assets like cryptocurrencies. This trend has been evident throughout much of the year, with traders balancing allocations between high-growth tech stocks and alternative assets.
