🌍 || Crypto Daily Recap: || China Eyes Yuan Stablecoin, Bitcoin Traders Turn Ultra-Bearish & US Pushes Market Clarity Bill )

The crypto market today was marked by shifts in sentiment, bold policy moves, and signals of regulatory progress. From China’s potential yuan-backed stablecoin to retail traders flipping ultra-bearish on Bitcoin, here’s what shaped the day.

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✨ • China Considers Yuan-Pegged Stablecoins – A Policy Game-Changer?

Major Shift in Stance: Reports suggest China’s State Council may review a roadmap this August to authorize yuan-backed stablecoins, reversing years of strict crypto bans.

Global Strategy: The move aims to counter US dominance in stablecoins and boost yuan internationalization.

Priority Hubs: Shanghai and Hong Kong are likely testing grounds for rollout.

Geopolitical Angle: This policy will also be a hot topic at the Shanghai Cooperation Organization (SCO) Summit in Tianjin (Aug. 31–Sep. 1).

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📉 • Bitcoin at $113K – Retail Sentiment Turns “Ultra Bearish”

17-Day Low: Bitcoin dipped below $113,000, sparking panic among retail traders.

Santiment Insights: Crowd sentiment has flipped to the most bearish since June 22, when geopolitical fears rattled markets.

Contrarian Signal: Analysts note that extreme fear often sets up dip-buying opportunities, as short-term sellers capitulate while long-term holders accumulate.

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🏛️ • US CLARITY Act Gains Momentum with Bipartisan Hopes

Legislative Push: Senator Tim Scott, speaking at the Wyoming Blockchain Symposium, said the Digital Asset Market Clarity (CLARITY) Act could see bipartisan support.

Previous Wins: The GENIUS Act already had backing from 18 Democrats, signaling cross-party alignment on crypto regulation.

Expected Numbers: Scott anticipates 12–18 Democrats may support the CLARITY Act, despite strong opposition forces.

Big Picture: If passed, this bill could define the future structure of US crypto markets, offering clearer rules for stablecoins, exchanges, and token classification.

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🔑 • Key Takeaways for Investors

China’s yuan-backed stablecoin could challenge the US dollar’s digital dominance.

Bitcoin sentiment is at peak fear, often a setup for contrarian rallies.

US regulation is moving forward with bipartisan momentum, shaping the next chapter of crypto adoption.

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👉 The crypto market continues to evolve under the push-and-pull of regulation, trader psychology, and global power struggles. For investors, today’s news underscores the importance of staying alert to macro trends beyond price charts.

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