Bitcoin Holds Near $64,000 as Senate Delays Clarity Act Vote Until September

Bitcoin traded near $64,300 on Friday, little changed on the day and flat over the past week, after the U.S. Senate confirmed it would not vote on the Clarity Act before departing for its August recess.

The market structure bill, which would clarify whether the Securities and Exchange Commission or the Commodity Futures Trading Commission has primary authority over which digital assets, requires 60 votes to pass. The jurisdictional ambiguity between the two regulators has shaped enforcement actions and listing decisions across the crypto industry for years. It remains uncertain whether the legislation currently commands even 50 votes. Several Republican senators have publicly expressed opposition, while Democrats are pushing for stricter provisions to prevent President Donald Trump from profiting from cryptocurrency ventures while in office. Trump disclosed more than $1 billion in income from his crypto-related ventures in 2025.

Senate Majority Leader John Thune stated that a vote would be scheduled for September. Lawmakers are set to return on September 14, giving them three weeks to address a legislative backlog that also includes government funding and a Russia sanctions bill. The delay leaves crypto markets waiting longer for the legal clarity that exchanges, token issuers, and institutional investors have cited as a precondition for broader participation in U.S. digital asset markets.

Major Cryptocurrencies Mixed

Major cryptocurrencies posted mixed results over the past seven days. XRP, linked to Ripple, was the weakest performer among majors, declining over 2% on the day to $1.02 and posting a 5.5% weekly loss. Solana fell more than 1% to nearly $73, down almost 2% for the week. Dogecoin slipped nearly 1% to under 7 cents, while ether was flat at $1,897, down marginally over seven days.

On the positive side, BNB held at $591, up 1% on the week. Hyperliquid's HYPE token eased under 1% to nearly $56 but led all majors over the seven-day period with a 1.3% gain.

Spot Bitcoin Fund Inflows Provide Support

Spot bitcoin funds attracted approximately $626 million in inflows between August 3 and August 5. Since their launch in January 2024, these exchange-traded products have become a primary conduit for institutional exposure to bitcoin. These inflows were sufficient to defend the support zone between $63,000 and $64,000 but fell short of pushing the price through resistance located between $66,000 and $66,600. Bitcoin has not managed to breach the $66,000 level despite consistent inflows throughout the week.

Economic Data Could Set the Next Direction

The coming week brings the U.S. employment report and July inflation data, which are likely to influence bitcoin's near-term trajectory. A strong jobs number or persistently elevated inflation would reinforce the case for tighter monetary policy, which has historically weighed on risk assets including bitcoin.

The Federal Reserve maintained its benchmark interest rate at 3.50% to 3.75% at its July meeting, though three officials voted in favor of a rate increase. Upcoming economic data will determine whether bitcoin makes another attempt at resistance above $66,000 or retreats back toward the $63,000 level.

Source: CoinDesk | Related: Senate Won't Vote on Crypto Clarity Act Before Summer Break