Bitcoin Steady Near $65K as Ex-Defense Chief Calls Crypto Bill a National Security Priority

Bitcoin Steady Near $65K as Ex-Defense Chief Calls Crypto Bill a National Security Priority

Crypto Prices Hold Steady as Traders Await US Inflation Data

Bitcoin is consolidating between roughly $64,700 and $65,300 on Monday, building on four straight days above the $65,000 mark, while Ether holds support near $1,900–$1,925. The stability follows Friday's softer-than-expected July jobs report, which cooled expectations of a near-term Federal Reserve rate hike and gave both assets room to breathe heading into a data-heavy week. Markets are now focused on Tuesday's Consumer Price Index release, with economists projecting annual inflation ticking down from 3.5% to roughly 3.4%. A second inflation report later in the week will further inform whether the Fed leans toward holding or trimming rates at its next meeting; current prediction markets show only about a third of traders anticipate a hike.

Demand indicators remain constructive despite the sideways price action. Spot Bitcoin ETFs drew around $844 million in net inflows over the past week, while Ether ETFs pulled in close to $244 million — their best week since April. Market-wide liquidations have also cooled sharply, down more than a third from the prior session, pointing to traders positioning cautiously rather than chasing a breakout in either direction.

Former Pentagon Chief Frames CLARITY Act as a National Security Issue

Regulatory momentum is building alongside the market's wait-and-see mood. Former US Defense Secretary Mark Esper published an opinion piece arguing that the CLARITY Act — the crypto market-structure bill currently stalled in the Senate — should be treated as national security legislation rather than routine financial policy. Esper contended that weak US digital-asset rules leave room for adversaries like China and North Korea to sidestep American financial oversight, pointing specifically to Beijing's development of state-backed payment infrastructure and North Korea's Lazarus Group using crypto to evade sanctions.

Senate Majority Leader John Thune has filed cloture on the bill, setting up a procedural floor vote for September 15, after lawmakers failed to reach agreement before the August recess. The legislation would divide oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission, replacing years of contested enforcement actions with a clearer regulatory test. Clearing the procedural hurdle requires 60 votes, meaning Republicans still need Democratic support; unresolved disputes over ethics provisions — including how to address President Trump's crypto business interests — remain the biggest obstacle to passage.

What It Means for the Market

The combination of steady institutional demand, a softening rate outlook, and a growing bipartisan security argument for regulatory clarity paints a market in a holding pattern rather than retreat. Traders are watching the CPI print for the next short-term catalyst, while the September 15 Senate vote — now bolstered by a national-security framing from a former Pentagon chief — represents the next major test of whether Washington can finally deliver the market-structure rules the industry has sought for years.