Українська
Русский
English
Bitcoin Price Today: Falls Below $118K Amid Regulatory Caution; Altcoins Decline
Bitcoin fell below $118,000 on Thursday amid profit-taking and large-scale fund movements. Traders remain cautious ahead of the White House’s upcoming cryptocurrency policy report, expected later this month, and assess emerging regulatory frameworks.
The world’s largest cryptocurrency was trading 0.6% lower at $117,780.9 as of 09:36 Moscow time.
The token remained in a consolidation phase after hitting an all-time high above $123,000 last week. The rally has since stalled amid reports of large holder transactions.
Meanwhile, other cryptocurrencies saw sharper losses, with XRP and Dogecoin leading declines after recent record highs.
White House to Release Crypto Policy Report This Month
White House crypto advisor Bo Hines announced on X (formerly Twitter, blocked in Russia) that the President’s Working Group on Digital Assets has completed its long-awaited 180-day report, which will be published on July 30.
The report, mandated by a presidential executive order in January, is expected to detail the amount of seized bitcoin currently held by the U.S. government and explain how it may be managed.
In addition to outlining reserves, the report is expected to propose a comprehensive regulatory framework.
Traders Cautious Amid Crypto Regulatory Developments
Investors remain wary despite the recent approval by the U.S. House of Representatives of three major cryptocurrency bills.
Last week, President Donald Trump signed the GENIUS Act, which establishes a federal regulatory framework for stablecoins.
In addition, the House passed two more bills: the CLARITY Act, which clarifies oversight by the SEC and CFTC, and the Anti-CBDC Surveillance State Act, seen as a step toward federal regulation of central bank digital currencies.
Still, many lawmakers see potential gaps in consumer protection, and the CLARITY and Anti-CBDC bills are awaiting Senate review.
Investors are waiting for clearer direction before pushing speculative assets higher again.
Analysts also attributed weakness to a breach of the key psychological level of $118,000, triggering automatic sell-offs. This added to downward pressure already building from profit-taking and general market caution.
Markets are also eyeing the upcoming Federal Reserve meeting on July 30.
Crypto Prices Today: Altcoins Drop, XRP and Dogecoin Lead Losses
Most altcoins posted sharp declines on Thursday after reaching multi-month highs in recent sessions.
-
Ethereum fell 4% to $3,552.81.
-
XRP dropped 12.4% to $3.05.
-
Solana was down 9.4%.
-
Cardano declined 11.4%.
-
Polygon also fell over 11%.
-
Among meme tokens, Dogecoin lost 14%, and $TRUMP dropped 12%.
