Although most prices in the cryptocurrency market have shown high levels of stagnation in the past week, there were still several notable developments on different fronts.

Starting with US regulations, this week saw discussions for a few separate bills, including the Financial Innovation and Technology for the 21st Century Act, which Democrats claimed still “reeks” of Sam Bankman-Fried – the disgraced former FTX exec who was among the chief supporters. On the other hand, Republicans were not too happy that the stablecoin legislative proposal also failed to pass.

Another talked-about point coming from the States was the Wednesday FOMC meeting. The Federal Reserve was expected to increase the key interest rates by 25 basis points after failing to do so during the previous such meeting.

Typically, such moves lead to enhanced volatility for bitcoin and the rest of the market, but this wasn’t the case on Wednesday. The primary cryptocurrency didn’t have the best week in terms of price action, as it failed to remain above $30,000 during the weekend and hasn’t been above that line since. Furthermore, it painted a monthly low beneath $29,000 on Monday.

Interesting news came out from Twitter as the owner – Elon Musk – announced a rebranding and a logo change to “X.” Additionally, he hinted at potential integration of Dogecoin, which sent the meme coin’s price flying to a three-month peak during the week.