Bitcoin price (UK): BTC holds above $64k as US crypto bill deadline looms

Bitcoin price today in GBP and USD

Bitcoin (BTC) - the original cryptocurrency, launched in 2009 - was trading at $64,737.31, up 0.74% on the day, which converts to roughly £48,079.40 (Yahoo Finance UK, 6 August 2026). Ethereum (ETH), the second-largest cryptoasset by market value, traded around $1,920.90, up 2.51% (Yahoo Finance UK, 6 August 2026).

Separately, CoinGabbar's market snapshot for the same day put the total cryptocurrency market capitalisation at $2.29 trillion, up 0.9% over 24 hours, with Bitcoin's dominance of the overall crypto market at 56.5% (CoinGabbar, 6 August 2026).

Why Bitcoin is holding steady despite market crosscurrents

Bitcoin's price has been relatively range-bound this week, holding above $64,000 even as several cross-currents pull in different directions.

The US crypto market structure bill deadline

US lawmakers have only a few days remaining to hold a vote on a crypto market structure bill before a Congressional recess begins - a delay that could push the decision into the 2026 election season or beyond (Cointelegraph, 6 August 2026). A market structure bill is a piece of legislation that would set out which US regulator - for example the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC) - oversees which types of cryptoasset. Clarity on this question has been a long-running point of uncertainty for the US crypto industry.

CoinDesk separately reported that Bitcoin steadied above $64,000 as traders also weighed a $100 billion unlock of SpaceX stock becoming tradable, alongside a $120 million exploit affecting the Coldcard hardware wallet's memory pool, which highlighted ongoing security risks in the sector (CoinDesk, 5 August 2026).

Broader risk-on sentiment from the Strait of Hormuz talks

Cointelegraph noted that Bitcoin built on the $64,000 level partly on hopes that the Strait of Hormuz - a key Middle East oil shipping route - could reopen, a development that also pushed the S&P 500's market capitalisation to a record $70 trillion (Cointelegraph, 6 August 2026). Easing geopolitical risk tends to support broader risk appetite, which can spill over into crypto markets alongside traditional equities.

What a US market structure bill could mean for UK crypto investors

It's worth being clear about jurisdiction here: a US market structure bill would apply to US-regulated firms and markets. It does not directly change how cryptoassets are regulated in the UK.

In the UK, the Financial Conduct Authority (FCA) - the regulator - takes its own approach to cryptoassets, and most crypto activity remains outside the scope of full FCA regulation for consumer protection purposes. That means there is no Financial Services Compensation Scheme (FSCS) protection if a UK-based crypto platform fails, unlike with many regulated investment products.

That said, US regulatory clarity - or a further delay - can still move global sentiment, because the US is home to a large share of crypto trading volume and many of the largest exchanges and institutional players. A clearer US framework could, over time, support wider institutional participation in the asset class; continued delay could prolong the uncertainty that has weighed on parts of the market, such as the DeFi sector.

• A US market structure bill would clarify SEC vs CFTC oversight of crypto in the US - it does not change UK FCA rules.
• UK cryptoasset holdings generally sit outside FSCS protection.
• Tax on cryptoasset profits may apply in the UK depending on individual circumstances.

FAQ

Past performance is not a reliable indicator of future results.