Bitcoin consolidates as Russian foreign trade allowed crypto payments from September

Bitcoin (BTC) is trading at $63,069, marking a marginal move lower for the session. The asset remains below its key moving averages, reflecting a period of subdued price action and limited volatility.

Highlights

• Russia set an annual limit of $3,700 on retail crypto purchases and restricted domestic access to key tokens including Bitcoin and Ethereum.
• Russian businesses gaining approval to use cryptocurrencies for international trade settlements from September 1 could create new external demand streams.
• BTC trades below major moving averages with momentum indicators showing a bearish bias, and the expected price range is $61,126 to $64,346.

Russian retail crypto limits heighten liquidity risk despite trade carveouts

Russia has finalized legislation that limits annual retail purchases of cryptocurrency to $3,700 and restricts access to Bitcoin, Ethereum, and USDT, according to Memeburn. This regulatory move narrows retail participation in one of the world's largest markets, potentially suppressing liquidity and dampening domestic buying sentiment for BTC. While qualified investors remain free from these caps, the broader use of crypto for domestic payments is prohibited under the new law. Russian businesses engaged in foreign trade will be permitted to use cryptocurrencies for international settlements starting September 1, which may offer new external demand channels in the future.