Original author: Billy Bambrough
AididiaoJP, Foresight News
Bitcoin and cryptocurrency prices struggled throughout 2026. Despite repeated public endorsements from U.S. President Donald Trump and what seemed to be the Federal Reserve’s “Bitcoin nightmare” coming to fruition, market sentiment never gained real momentum.
Since its peak in October last year, Bitcoin has dropped by approximately 50%. For the past six months, the price has largely traded sideways around $60,000, barely keeping its head above water.
The situation now appears to be undergoing subtle changes. BlackRock has just revealed that a shift is beginning in the market, while multiple reports indicate that Trump is expected to attend a significant meeting on Bitcoin and cryptocurrency companies at the White House this week.
The meeting is of high caliber. It will bring together executives from companies such as Coinbase, Ripple, Gemini, Robinhood, Polymarket, and Kalshi, alongside top regulators including CFTC Chair Michael Seelig and SEC Chair Paul Atkins.
According to CoinDesk, citing anonymous sources, U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick may also attend.
Politico first reported the news of the meeting, also citing anonymous sources; Bloomberg's report 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 critical—immediately followed on Thursday by the CFTC Innovation Advisory Committee meeting. The committee includes members from top cryptocurrency, financial, and prediction market companies, making it inherently indicative of industry trends.
Previously, the long-awaited cryptocurrency market structure legislation—the Clarity Act—did not receive a Senate vote before Congress adjourned in August. Senate Majority Leader John Thune has scheduled a key procedural vote for mid-September, which could pave the way for the bill to advance to a full chamber vote.
Update as of August 16: The crypto industry has significantly lowered its expectations for the passage of the Clarity Act this year. Earlier this year, many analysts referred to this legislation as the "ultimate catalyst" for Bitcoin's price.
Alex Thorn, Research Head at Galaxy Digital, wrote on X: “The Clarity Act could still pass, but we’ve entered the realm of a circus show—if it passes in 2026, it will require a miracle.” He also lowered the probability of the bill passing this year to just 10%.
However, developments from the U.S. Securities and Exchange Commission (SEC) are currently more noteworthy. The highly anticipated "Reg Crypto" regulatory exemption, along with the so-called "innovation exemption," is expected to allow companies to test new business models—such as blockchain-based stocks—without fully complying with all SEC disclosure and investor protection requirements. Once implemented, these measures could significantly disrupt the market.
Thorn further wrote: "Regardless of the momentum or final outcome of the Clarity Act, we now expect the committee to release the text of Reg Crypto, the innovation exemption, or both within the coming weeks or one to two months. This again reminds us that even without the Clarity Act, the crypto industry is still poised for an exciting period and a positive regulatory environment."
The traditional finance sector is not entirely pessimistic either; some still hold higher expectations for the passage of the bill.
Citigroup CEO Jane Fraser has close ties to the Trump White House. She has clearly expressed her desire to see the Clarity Act become law, but has also voiced concerns about how the bill handles stablecoin incentives, fearing they could undermine 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 believe this would be very beneficial for the entire system.”
Market analyst Lin Chen from XS.com noted in an email comment: “Recent developments in the Clarity Act indicate that Washington continues to move toward establishing a clearer regulatory framework for digital assets. While this is unlikely to serve as an immediate catalyst for Bitcoin’s price, greater regulatory clarity over the long term helps reduce one of the key risks that traditional institutions have long hesitated to enter the crypto market.”
On prediction platforms such as Polymarket and Kalshi, the probability of the Clarity Act passing this year has dropped significantly over the past few months, falling from a peak of around 80% at the beginning of the year to approximately 20%.
Andrea Kobilic, Head of Derivatives Trading at Amina Bank, stated in an email: "The Bitcoin chart has become more constructive than in the past few months, but all key indicators are clustered within a single resistance zone of $67,000 to $70,000. The Clarity Act could break the deadlock, regardless of direction, but its probability has decreased and become increasingly partisan."
Bitcoin has been trading sideways this year, but many are beginning to see signs of a turning point. This high-level White House meeting, along with the regulatory developments that followed, has become the most watched factor in the market right now.