Summary
- Bitcoin hovered around $64,300 and was flat on the week as the Senate delayed a vote on the Crypto Clarity Act until at least September.
- Major cryptocurrencies were mixed, with XRP leading declines while BNB and Hyperliquids HYPE outperformed over the past seven days.
- Inflows into spot bitcoin funds have helped defend support near $63,000 to $64,000, but upcoming U.S. jobs and inflation data could determine whether bitcoin retests resistance around $66,000 or falls back toward $63,000.
Bitcoin held near $64,300 on Friday, little changed on the day and flat over the week, after the Senate confirmed it would not vote on the Clarity Act before leaving for its August break.
XRP was the weakest major, down over 2% on the day to $1.02 and 5.5% over seven days. Solana fell over 1% to nearly $73 and is down almost 2% on the week. Dogecoin slipped almost 1% to under 7 cents and ether was flat at $1,897, down marginally over seven days. BNB held at $591 and is up 1% on the week. Hyperliquid's HYPE eased under 1% to nearly $56 but leads the majors over seven days at 1.3%.
The bill, which would set out which U.S. regulator oversees which digital assets, needs 60 votes to pass and it is unclear whether it currently has 50. Several Republican senators have said publicly they oppose it, and Democrats want stricter rules preventing President Donald Trump from profiting from crypto while in office.