“A digital money system with transparent, predictable, and ultimately scarce supply... has rising appeal in today’s economy due to fiat currency tail risks," said Grayscale.

US lawmakers said any ban on issuing a US CBDC must “be permanent,” warning that creating one would be “inherently anti-American.”

On-chain analyst Willy Woo said Bitcoin’s current price range likely hasn’t bottomed yet, warning that the market could see further downside before a true cycle low forms.

Bitcoin whales have sold about 66% of the Bitcoin they recently accumulated since Wednesday, according to crypto sentiment platform Santiment.

Mixers, privacy coins and the threat quantum computing could pose to Bitcoin were all points of speculation across the industry following the release of Trump’s Cyber Strategy.

If the crypto industry and community banks cannot find common ground on the CLARITY Act, the only winners will be the “big banks,” according to crypto executive Austin Campbell.