Bitcoin’s price moves on a mix of supply and demand mechanics, macroeconomic conditions, regulatory developments, and trader sentiment — with no central bank or company setting its value the way a stock might have earnings guidance. On July 23, 2026, BTC is trading at $65,673.59, down a modest 0.29% over 24 hours but up 2.45% over the past week, a move currently tied largely to uncertainty around the CLARITY Act’s path through the US Senate. This guide breaks down the main forces that drive Bitcoin’s price in either direction, using recent price action as a real-world illustration.