Bitcoin has stabilized around the $63,000 mark after recovering from a recent dip.
As of 8 a.m. on July 13, Bitcoin was trading at $63,867, down 0.45% from the previous day, according to global cryptocurrency market site CoinMarketCap.
The cryptocurrency fell to around $62,000 on July 9 amid rising concerns over military conflict between the U.S. and Iran but has since regained some ground, hovering around $63,000.
Market analysts suggest that the passage of the CLARITY Act, which aims to clarify regulatory authority over cryptocurrencies in the U.S., could improve investor sentiment in the medium to long term. The legislation seeks to establish a clearer regulatory framework for the cryptocurrency sector.
Industry experts expect that if the bill is passed, it will alleviate costs related to licensing and regulatory uncertainties, as well as reduce litigation burdens. The CLARITY Act is anticipated to be discussed and voted on before the Senate recess on August 7.
Major altcoins also experienced declines. Ethereum fell 0.41% to $1,804.55, Binance Coin (BNB) dropped 1.14% to $573.39, and Solana (SOL) decreased by 1.68% to $76.58. Ripple (XRP) was trading at $1.08, down 2.29%.
Meanwhile, as of 8 a.m., Bitcoin was trading at approximately 95,716,256 won ($63,725) on the domestic exchange Bithumb, reflecting a 0.48% decrease from the previous day. The 'Kimchi Premium' was reported at -0.490%, indicating that Bitcoin prices in South Korea are lower than those overseas.
* This article has been translated by AI.
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