Traditional banks are moving closer to offering Bitcoin custody as US regulators weigh new rules. Michael Saylor said he expects the SEC and CFTC to advance guidance on Bitcoin custody, which could allow banks to expand custody services and offer loans backed by Bitcoin. He also stressed that regulatory progress does not have to wait for Congress, while the CFTC has already signaled openness to using Bitcoin as collateral in derivatives trading.
On September 16, Deutsche Bank added concrete momentum. The German bank, which manages $1.7 trillion in assets, announced plans to launch a crypto custody service later this year, pending regulatory approval. At launch it will support Bitcoin, Ethereum, USDC and EURC for institutional and corporate clients in Europe. Deutsche Bank will hold wallets and private keys on behalf of clients, removing the need for firms to build their own custody infrastructure, and tokenized financial instruments are on its roadmap. The move adds it to a growing list of traditional finance players entering crypto, including Citi and Standard Chartered.
The regulatory picture remains mixed. On September 15, the Digital Asset Market Clarity Act failed a key procedural vote in the Senate, falling short of the 60 votes required to advance. BTC slid nearly 4% during the vote, while Coinbase and Circle shares dropped. Analysts expect the failure to keep comprehensive US crypto legislation off the table for 2026, which could limit quick recovery in US spot demand.
Bitcoin trades near $78,500 after briefly dipping below $75,000 earlier in the week. Macro headwinds include oil above $100 per barrel, a 10-year Treasury yield near 5%, and an expected Federal Reserve rate hike. Claude AI's scenarios see a bearish range of $68,000–$72,000, a base case of $75,000–$85,000, and a bullish range of $88,000–$95,000. Short-term support sits at $75,000, while a break above $82,000 could signal renewed bullish momentum.
