Bitcoin Falls Amid Uncertainty over Crypto Bill, Middle East Conflict

Dow Jones07-31 20:41

1241 GMT - Bitcoin edges lower amid uncertainty over key U.S. crypto legislation and the Middle East conflict. The Clarity Act, which aims to establish a framework for regulating digital assets, has stalled in the Senate and it's unclear whether the bill will receive a vote before summer recess starts on August 8. Meanwhile, U.S. officials said Hamas and other Palestinian militant groups agreed to disarm but Israel is yet to comment. Investors are also digesting a batch of U.S. tech earnings this week. Apple shares fell after forecasting weaker sales growth while Amazon gained after posting stronger-than-expected revenue. Elsewhere, crypto-hoarding firm Strategy swung to a quarterly loss, citing bitcoin's decline. Bitcoin falls 1.4% to $63,811, according to LSEG.

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