Original Author: Billy Bambrough
Original Translation: AididiaoJP, Foresight News
Bitcoin and cryptocurrency prices have had a fairly sluggish run throughout 2026. Despite repeated public shows of support from U.S. President Donald Trump, and the Federal Reserve’s “bitcoin nightmare” seemingly becoming a reality, market sentiment has failed to muster any real momentum.
Since the highs of last October, bitcoin has fallen by roughly 50%. For the past six months, prices have largely traded sideways around the $60,000 mark, barely keeping their heads above water.
Now, however, the situation appears to be undergoing subtle shifts. BlackRock has just revealed that some kind of shift is underway in the market, while multiple reports indicate that Trump is expected to attend a significant bitcoin and crypto company meeting at the White House this week.
This meeting carries considerable weight. It will bring together executives from companies like Coinbase, Ripple, Gemini, Robinhood, Polymarket, and Kalshi, seated at the same table as regulatory heavyweights such as Commodity Futures Trading Commission (CFTC) Chairman Michael Selig and Securities and Exchange Commission (SEC) Chairman Paul Atkins.
According to CoinDesk, citing anonymous sources, U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick may also be in attendance.
Politico was the first to report news of this meeting, also citing anonymous sources; Bloomberg’s reporting further confirmed that Trump himself is expected to attend in person.
The meeting is scheduled for Wednesday at the White House, and the timing is also critical—coming right before Thursday’s CFTC Innovation Advisory Committee meeting. That committee includes members from top crypto, financial, and prediction market companies, which itself carries significant weight as a barometer for industry trends.
Previously, the industry’s highly anticipated crypto market structure bill—the Clarity Act—failed to receive a Senate vote before the August congressional recess. Senate Majority Leader John Thune has scheduled a key procedural vote for mid-September, which could pave the way for the bill to move to a full floor vote.
August 16 update: The crypto industry has significantly downgraded its expectations for the Clarity Act’s passage this year. Earlier this year, many analysts were still calling the bill the “ultimate catalyst” for bitcoin prices.
Alex Thorn, Head of Research at Galaxy Digital, wrote bluntly on X: “Passage of the Clarity Act is still possible, but we’ve entered the ‘circus act’ territory—if 2026 is really going to happen, it will take a miracle.” He simultaneously lowered his probability estimate for the bill’s passage this year to just 10%.
However, progress on the U.S. Securities and Exchange Commission (SEC) front is arguably more noteworthy at this point. The highly anticipated “Reg Crypto” regulatory exemptions, as well as the so-called “innovation exemptions,” are expected to allow companies to experiment with new business models like blockchain stocks without having to fully comply with all SEC disclosure and investor protection requirements. If these measures come to fruition, they could genuinely shake up the market.
Thorn further wrote: “Regardless of the momentum or final outcome of the Clarity Act, we now expect the Commission to release the text of Reg Crypto, the innovation exemption, or both in the coming weeks or a month or two. This serves as another reminder that even without the Clarity Act, the crypto industry is still poised for an exciting period and a positive regulatory environment.”
The traditional finance circle isn’t entirely pessimistic either. Some still hold higher expectations for the bill’s passage.
Citigroup CEO Jane Fraser has close ties to the Trump White House. She has explicitly stated her desire to see the Clarity Act become law, but also expressed concerns about the bill’s treatment of stablecoin rewards, suggesting it could impact bank deposit bases.
Fraser told Fox Business: “We haven’t given up on pushing for some improvements to the bill, but we want to see a good bill pass. I think it would be very beneficial for the entire system.”
Lin Chen, market analyst at XS.com, noted in an emailed commentary: “Recent progress on the Clarity Act suggests Washington is still moving toward establishing a clearer regulatory framework for digital assets. This is unlikely to be an immediate catalyst for bitcoin prices, but over the long term, greater regulatory clarity helps reduce one of the key risks that traditional institutions have long cited for entering the crypto market.”
On prediction platforms like Polymarket and Kalshi, the probability of the Clarity Act passing this year has fallen sharply in recent months, dropping from a peak of around 80% at the start of the year to roughly 20%.
Andreja Kofelic, Head of Derivatives Trading at Amina Bank, said in an email: “The picture for bitcoin is more constructive than it has been over the past few months, but all key indicators are stacked in a single resistance zone between $67,000 and $70,000. The Clarity Act has the potential to break the deadlock, in either direction, but its probability has declined and become politicized.”
Bitcoin has traded sideways all year, but many are beginning to see signs of a turning point. This high-level White House meeting, along with the regulatory developments that may follow, has become the market’s most closely watched variable at the moment.
Credit: Source link
