Bitcoin's price dipped to around $88,000 on Thursday, despite a rally in gold and a weaker U.S. dollar, indicating investor caution. The cryptocurrency has been range-bound between $86,000 and $89,000 this week. The Federal Reserve's decision to hold interest rates steady also weighed on crypto, as investors reassessed the outlook for liquidity conditions.

The subdued trading in Bitcoin contrasted with a surge in the gold market, driven by safe-haven demand and geopolitical tensions. This highlights the ongoing debate about whether Bitcoin acts as a true safe haven asset. The White House is set to meet with banking and crypto executives to address stalled US crypto legislation, focusing on stablecoin regulations.

The proposed Clarity Act aims to establish federal rules for digital assets. The meeting's goal is to find common ground on contentious provisions governing interest or rewards on dollar-pegged stablecoins. Crypto advocates and banks hold conflicting views on yield payments. Most altcoins also remained subdued. The outcome of the talks could significantly impact the future of digital assets.

The US legislation could establish regulatory clarity for digital assets, which is currently lacking. This lack of clarity has been a significant headwind for the industry. A compromise would likely boost investor confidence and potentially unlock institutional investment. The meeting's results will be closely watched by the crypto community and investors alike.