Bitcoin’s hanging out well below the highs it hit on inauguration day, and Congress has put the CLARITY Act on the back burner. Meanwhile, regulators aren’t waiting around. They’re stepping in anyway. So, what does all this really mean for American crypto interests, especially as the November midterms creep closer?
On October 8, 2026, Bitcoin was trading close to $83,050, down roughly 25% from where it stood on the morning of President Donald Trump’s second inauguration. Back on January 20, 2025, it shot up to about $109,000, then slipped below $100,000 just hours later, according to numbers from Fortune.
Globally, things seem a bit calmer. On October 9, 2026, Binance’s live BTC INR page, which gives real-time currency conversions from one of the world’s leading crypto exchange platforms, had Bitcoin at ₹7,998,801.62 apiece. And according to that same page, Bitcoin’s market cap stood at roughly ₹160.9 trillion.
How has Bitcoin’s price shifted since Trump came back?
First, Bitcoin soared. Then it fell hard. After that, it started clawing its way back. In October 2025, prices nearly touched $126,000, then dropped for several months. Binance Research’s Half-Year 2026 report points out Bitcoin was still more than 50% down from that peak by June’s end.
The report singles out tight monetary policy as the main culprit, not anything unique to crypto. That’s important because it means victories in D.C. haven’t been enough to fight the broader mood on Wall Street.
What pro-crypto policies has Trump signed in his second term?
There are two big ones: The Strategic Bitcoin Reserve and the GENIUS Act. On March 6, 2025, Trump signed an executive order creating the Strategic Bitcoin Reserve, starting it off with about 200,000 seized coins, according to Fortune. According to the order itself, the government can’t sell those coins.
Then in July 2025, Trump signed the GENIUS Act, the first real federal framework for dollar-backed stablecoins, as per a White House fact sheet. On top of that? New leadership at the SEC and CFTC has moved away from an enforcement-heavy approach, giving the industry a friendlier vibe from regulators.
What has Trump said about Bitcoin?
Trump talks about Bitcoin like it’s central to America’s future, not just a passing fad. At the Bitcoin 2024 conference in Nashville, he promised to set up a reserve, and he followed through. At the GENIUS Act signing, he said the law gives the crypto industry a real set of rules and expectations, as reported by NASDAQ.
Earlier this summer on Truth Social, he went so far as to crown America the “Crypto Capital of the World”, also crediting himself with rescuing the sector from the prior administration’s crackdown, according to Yahoo Finance.
What happened in the Senate on September 15, 2026?
The Senate blocked the CLARITY Act’s progress. The tally: 49 in favor, 50 against, not close to the 60 needed to keep things moving, as per the official vote results from the Senate. This wasn’t a final up-or-down vote on the bill, just a procedural step to start debate.
Senator Cynthia Lummis, who championed the CLARITY Act, said earlier that if it failed, “it’s over”, according to CNBC. Democrats argued that the bill’s ethics provisions didn’t go far enough, especially when it came to crypto ventures with ties to Trump’s family. The White House said their version included the strongest ethics language in history, as per The Hill.
How did Bitcoin react to the CLARITY Act’s defeat?
Bitcoin flinched and then shrugged. On September 15, 2026, it dipped briefly below $75,000 as crypto-linked stocks got hit, too. But the drop didn’t stick around, and Bitcoin climbed back within a few weeks, according to data from Forbes.
Traders had already braced themselves, so the outcome stung less than a true surprise would have. At this point, the market seems far more interested in what’s happening with interest rates and fund flows than with any single piece of legislation.
What has happened in the U.S. since the Senate punted on the CLARITY Act?
Regulators stepped up. The SEC rolled out its “Regulation Crypto” proposal back in August, as per a press release from the SEC. Then on October 5, 2026, the CFTC released two draft frameworks, Regulation CTX and Regulation CAM, targeting leveraged crypto exchanges, as per a press release from the CFTC.
Lawmakers aren’t finished, but the clock’s ticking. Senator Lummis already warned that if the bill is dead this session, the next real shot probably doesn’t come until 2030. Meanwhile, the pro-crypto super PAC Fairshake is still throwing support behind House incumbents as the midterms approach, as per Yahoo Finance.
FAQ
Is the CLARITY Act dead?
Not officially. The Senate only shut down a motion to proceed.
Is the Strategic Bitcoin Reserve still standing?
Yes. The 2025 executive order is still in effect.
Author: Pam Brown
Pam Brown is a journalist with exceptional analytical skills and a strong interest in modern financial systems. She specializes in translating complex topics like crypto, loans, and forex into clear, accessible content. Pam’s precise, research-driven writing has made her a trusted voice in the financial and fintech space.
