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

MarketsBitcoin 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 Jul 23, 2026, 3:50 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin 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$65,608.04 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 rot…

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

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