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Bitcoin rallies past $65,000 as Trump backs U.S. crypto leadership amid regulatory delays.

Market News
07 Aug 2026
Coinpaper
View Source
Bullish
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Bitcoin surged above $65,000 following President Donald Trump's renewed support for the U.S. cryptocurrency sector, emphasizing the need to maintain American leadership against China in digital assets. This price move comes as Bitcoin tests the upper range of its recent trading band, supported by increased buying from large holders and inflows into U.S. spot Bitcoin ETFs. Meanwhile, U.S. lawmakers are struggling to pass the CLARITY Act, which aims to regulate digital asset trading, delaying federal oversight progress until at least September. Additionally, weak U.S. jobs data boosted risk assets, reinforcing expectations that the Federal Reserve will keep interest rates steady, further supporting Bitcoin's price momentum.

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