Bitcoin price (BTC) news: Clarity Act odds tumble, U.S. deploys B1 bomber against Iran

Bitcoin fell below $65,500 as oil surged toward $88.60, Treasury yields climbed, and Clarity Act passage odds dropped from 46% to 38% after Senate Democrats said the latest draft falls short on ethics and consumer protections.

Bitcoin price (BTC) news: Clarity Act odds tumble, U.S. deploys B1 bomber against Iran

Markets

Bitcoin wilts as oil and rates rise. Clarity Act odds tumble to 38%

Geopolitical risks, rising rates, and fresh regulatory setbacks send crypto lower as key Democrats demand stronger safeguards in the market structure bill.

By

Omkar Godbole

Updated

Jul 23, 2026, 6:59 a.m.

Published

Jul 23, 2026, 3:50 a.m.

2

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BTC remains under pressure as oil and rates rise. (CoinDesk)

Summary

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Bitcoin slipped to about $65,500 as rising oil prices and higher Treasury yields pressured risk assets and weighed on major cryptocurrencies.

Market sentiment was further dampened by an apparent escalation in U.S. military strikes linked to Iran.

Regulator uncertainty persisted as key Senate Democrats criticized the latest draft of the Digital Asset Market Clarity Act, sending betting odds of its passage lower.

Bitcoin

BTC

$

65,744.74

remained under fresh selling pressure early Thursday as oil and Treasury yields continued to rise and odds for the Clarity Act tumbled.

The cryptocurrency changed hands near $65,500, down about 0.7% since midnight UTC, extending the pulled back from a high near $66,700 reached Wednesday. The weakness spilled over into the broader market, with major tokens including ether (ETH), solana (SOL), and XRP (XRP) also trading lower.

Futures tied to West Texas Intermediate on the NYMEX climbed to $88.60 per barrel, marking the highest level since June 11. The move extends a steep rebound from recent lows below $70 and signals a potential new inflationary impulse that could push up consumer price indexes in the U.S. and globally. That, in turn, would complicate efforts by central banks to cut interest rates.

Bond markets are already reacting. The U.S. two-year Treasury yield jumped to 4.31%, its highest level since February 2025, while the benchmark 10-year yield rose to 4.66%, the highest since May, according to TradingView data. Higher yields raise the opportunity cost of holding non-yielding assets such as bitcoin and gold, often prompting investors to rotate out of speculative holdings and into fixed-income securities that now offer more attractive returns.

Adding to the cautious market sentiment,

Axios reported

that the U.S. military deployed a B-1 long-range bomber on Tuesday to strike targets linked to Iran’s Islamic Revolutionary Guard Corps. The use of the heavy bomber represents a clear escalation in the scale of U.S. operations and suggests Washington may be preparing for a broader campaign, rather than continuing with the more limited strikes seen in recent days.

Regulatory uncertainty persisted after a group of key Senate Democrats

said

the newest draft of the Digital Asset Market Clarity Act (Clarity Act) “falls short” on ethics and other critical provisions.

Betting markets on decentralized platform Polymarket reacted swiftly, with the

implied odds

of the Clarity Act passing tumbling from 46% to 38%.

Senate Republicans released the updated draft earlier Wednesday, which includes an ethics provision agreed to by the White House and President Donald Trump. Senator Bernie Moreno called it “the most powerful ethics language in U.S. history.

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Bitcoin

$

65,744.74

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%

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$1,781.37

CD20 down 0.021 percent

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$65,393.87

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