Traders cautious, await crypto regulation progress

Investors remain on edge despite the U.S. House’s recent approval of three major crypto bills.

Last week, President Donald Trump signed into law the U.S. GENIUS Act, establishing a federal regulatory framework for stablecoins.

In addition to the GENIUS Act, the House of Representatives passed two other key bills. The CLARITY Act clarifies SEC and CFTC oversight, and the Anti‑CBDC Surveillance State Act is viewed as a pivotal step toward federal crypto regulation.

Still, many lawmakers saw potential gaps in consumer protection, and both the CLARITY and Anti‑CBDC acts await Senate review.

Investors were cautious amid evolving regulatory bills and waited for clearer direction to push the speculative asset for a breakout again.

Analysts also attributed the weakness to the breach of the key psychological level $118,000, which prompted automated selling. It added to downward pressure already building from profit-taking and broader market caution.

Markets also awaited the Federal Reserve’s upcoming policy meeting on July 30.