Bitcoin rebounds as House Democrats reportedly discuss wider crypto bill
Bitcoin climbs back above $80,800 on Wednesday
Bitcoin rose on Wednesday after falling below $76,000 on Tuesday night. The source describes that low as a seven-week low. By Wednesday afternoon, Bitcoin was back above $80,800, up 4% on the day.
The rise happened on a broadly positive day for other markets. The Dow Jones Industrial Average rose 3% and the Nasdaq rose 1.6%. Oil also fell. The source says West Texas Intermediate crude fell to $88 a barrel.
James Butterfill of CoinShares said: “For Bitcoin, real yields, dollar liquidity and ETP flows still carry more weight than the elections.” ETPs are investment products traded on an exchange, similar to ETFs, which are funds traded on a stock exchange that track the price of an asset.
Bitcoin and Ethereum ETFs record inflows
- Bitcoin ETFs, which are funds traded on a stock exchange that track Bitcoin, recorded $74 million in net inflows on Wednesday.
- Ethereum ETFs recorded $53 million in inflows on Wednesday.
- The newsletter said the inflows broke a previous outflow streak for both products.
- Strategy's STRC reached its $100 par value for the first time since May, which the newsletter said enabled Strategy to buy 191 BTC.
House Democrats reportedly discuss a wider crypto bill
Eleanor Terrett reported that House Democrats are discussing expanding Representative Maxine Waters' Crypto Investor and Consumer Bill of Rights. The source says the proposal was originally an amendment to the CLARITY Act in 2025. The discussions would turn it into a full market structure bill next Congress. A market structure bill sets rules for how crypto markets are regulated.
The newsletter said three industry sources described the talks to Terrett. It did not provide the text of a draft bill.
The draft under discussion would include Democratic provisions from the CLARITY Act that the House rejected last year. It would also include provisions that Senate Democrats and Republicans had already agreed on before a September cloture vote, which the source says killed the earlier bill.
More SEC role and ethics limits under discussion
The proposals under discussion would give the U.S. Securities and Exchange Commission (SEC), the main U.S. securities regulator, a larger role supervising crypto markets. They would leave the Commodity Futures Trading Commission (CFTC), the U.S. futures and derivatives regulator, with a smaller role.
The newsletter also said the draft is expected to include ethics provisions restricting the crypto activities of President Donald Trump and other federal officials.
It said Waters is the likely incoming chair of the House Financial Services Committee. It described the plan as an early step by the Democrat-led Congress to change the CLARITY Act and try to pass a bill in 2027.
What is reported and what remains unclear
The market prices, ETF inflow figures and index moves are reported figures from the newsletter. The bill discussions are reported, based on three industry sources described to Terrett. The newsletter's view that the move could be positive for crypto is opinion, not a confirmed outcome.
No draft text, vote date or final wording is provided in the source. It is therefore unclear whether the discussed provisions would be included in a bill, pass Congress or be signed into law.
Source for this article
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.