Bitcoin and XRP Slip as Regulatory Delays, Rising Yields Pressure Market

Bitcoin traded near $62,906 while XRP hovered close to $1 as regulatory setbacks weighed on crypto sentiment.

Progress on the Clarity Act has stalled in the Senate, and the SEC is reportedly delaying its “innovation exemption” for tokenized securities amid concerns from the White House and Wall Street. The agency’s related “Reg Crypto” meeting was also abruptly canceled without a new date.

Adding pressure, index provider MSCI has proposed removing non-operating companies from its equity indices, naming Bitcoin holders Strategy and Metaplanet as potential targets. Meanwhile, US spot Bitcoin ETFs saw $333 million in outflows this week, reversing last week’s inflows, with year-to-date outflows now topping $4 billion.

Rising Treasury yields are compounding the strain, with a 30-year note auction drawing yields as high as 5.22%, the highest since 2001, raising the cost of holding non-yielding assets like Bitcoin.