Since Trump returned to the White House, Bitcoin has seen some price swings. It shot up to record levels, faced a blow in the Senate with the CLARITY Act defeat, and yet, even after all that, it’s still hanging above $80,000. But what does all this mean for businesses in India and worldwide?
Bitcoin started Trump’s second term in style, hitting a record $109,356 on 20 January 2025, as per CCN. Then it climbed higher, almost touching $126,000 by early October 2025 before dropping into a bear market for most of 2026. On 8 October 2026, it traded at $82,622, a slide from its peak, but still a strong showing, according to Fortune.
For readers in India, the rupee price tells much the same story. On 9 October 2026, Binance listed the Bitcoin price INR at ₹7,992,097.58, up 2.24% in just 24 hours. Binance, which claims over 320 million registered users across more than 180 countries, showed the crypto market cap sitting at ₹160.6 trillion on that same page.
What has Trump done for crypto during his second term?
Trump signed two major measures: The executive order establishing the Strategic Bitcoin Reserve on 6 March 2025, and the GENIUS Act, a federal stablecoin law, in July 2025.
The Reserve kicked off with about 200,000 bitcoin, all taken from government seizures. The order also told the Treasury and Commerce to look for ways to boost the reserve without busting the budget, according to a fact sheet from the White House and reports by Reuters.
Trump’s been clear about his stance too. In June 2025, he said more people paying with Bitcoin eases the pressure on the dollar, as Yahoo Finance covered. After signing the GENIUS Act, he claimed he’d make America the “crypto capital of the world,” according to the White House’s crypto webpage.
What went down in the Senate on 15 September 2026?
The Senate wouldn’t let the CLARITY Act move to debate. The procedural vote finished at 49 for and 50 against, well short of the 60 votes needed, as per the official voting records from the Senate.
This wasn’t a vote on the bill itself, just on moving forward. Senator Thom Tillis switched to “no,” letting him file a motion to reconsider, which, as Reuters explains, leaves the door open for revival. The main sticking points? Ethics rules for officials’ crypto holdings and stablecoin yield.
What does this Senate setback mean for Bitcoin prices right now?
It does not mean much. Bitcoin traded at $82,622.04 on 8 October 2026, up about 4% from a month earlier, per data from Fortune.
That recent dip? It’s mostly about rising oil prices and a hawkish Federal Reserve, not so much Washington, according to Bitcoin Magazine. Some analysts believe Bitcoin’s already entered a new bull market.
Regulators acted fast, too. The CFTC sent a crypto market rulemaking proposal to the White House for review, as per a press release from the CFTC. CNBC says the SEC and CFTC are both pushing to build a rulebook with the tools they have now.
How are Bitcoin’s ups and downs affecting global business?
Mainly through exchange-traded funds, listed crypto firms and expectations on interest rates. U.S. spot Bitcoin funds pulled in $241.1 million in net inflows between 28 September and 2 October 2026, according to Tokenpost.
Because Bitcoin trades like a risk asset, oil shocks and rate worries hit it just like stocks. That connection matters for any finance team or fund holding digital assets alongside conventional ones.
Policy’s shifting elsewhere, too. Thailand’s securities regulator just approved Bitcoin and Ethereum ETFs under new rules starting 16 October, according to TradingView.
What’s changed in India since the Senate vote?
No new law yet. But Parliament’s finance committee wrapped up its year-long crypto hearings on 16 September 2026, as reported by the Economic Times. Chairman Bhartruhari Mahtab emphasised that leaving crypto unrecognised and unregulated lets “different types of indulgences” flourish, as reported by Crypto Times.
They’re waiting for a written government response before filing the final report. A successor committee, expected in October, plans to tackle complaints about frozen UPI payments tied to peer-to-peer crypto transactions.
What does this mean for Indian businesses and investors?
Rules aren’t changing just yet, which favours platforms and firms already following the law. As of mid-2026, the FIU-IND register listed 54 registered service providers, including local names like CoinDCX, CoinSwitch and ZebPay, as reported by Binance.
Back in July 2026, the committee suggested a phased approach, with a temporary self-regulatory body under SEBI or the RBI. Industry leaders told The Crypto Times that even a light-handed statute could help restore banking channels.
FAQ
Is the CLARITY Act dead?
No. The Senate blocked a procedural step.
Is Bitcoin legal in India?
Yes. Buying, holding and trading are all legal, but Bitcoin isn’t legal tender.
Author: Pam Brown
Pam Brown is a journalist with exceptional analytical skills and a strong interest in modern financial systems. She specialises in translating complex topics like crypto, loans, and forex into clear, accessible content. Pam’s precise, research-driven writing has made her a trusted voice in the financial and fintech space.
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