CumberlandBitcoin, ether showed slight losses while Ripple-linked XRP fell 5.5% on the week, the worst of the majors, as the Senate left Washington without taking up the market structure bill.
XRP leads majors losses as Clarity Act vote slips to September
Bitcoin, ether showed slight losses while Ripple-linked XRP fell 5.5% on the week, the worst of the majors, as the Senate left Washington without taking up the market structure bill.
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 Hyperliquid’s 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.
Trump disclosed more than $1 billion in income from his crypto ventures in 2025. Senate Majority Leader John Thune said a vote would come in September, when lawmakers return on Sept. 14 with three weeks to work through a backlog that also includes government funding and a Russia sanctions bill.
Spot bitcoin funds took in about $626 million between Aug. 3 and Aug. 5, enough to defend the $63,000 to $64,000 area but not enough to push through resistance between $66,000 and $66,600.
Next week brings the U.S. employment report and July inflation data. The Federal Reserve held rates at 3.50% to 3.75% in July, though three officials voted to raise them. A strong jobs number or sticky inflation would strengthen the case for tighter policy, which typically weighs on bitcoin.
Bitcoin has not managed to break $66,000 even with money coming in all week. Next week's jobs and inflation reports decide whether it gets another try or slips back toward $63,000.
1A case for a bitcoin surge to $76,000 may be building beneath the boring price action, but there's a caveat16 minutes ago 2Senate won't vote on crypto Clarity Act before its summer break2 hours ago 3Power struggle erupts at Ondo Finance after founder’s death6 hours ago 4Tether expands tokenization business into Saudi Arabia, starting with real estate12 hours ago 5Crypto for Advisors: Europe's crypto rules, U.S. Preview13 hours ago 6JPMorgan says Hyperliquid ETF inflows have stalled as competition mounts15 hours ago 7Bitcoin’s low volatility doesn’t necessarily mean low risk17 hours ago 8Free Markets and Innovation, Sort Of17 hours ago 9Why Sandisk and Western Digital crashed 10% and what it means for bitcoin17 hours ago 10JPYC raises $38 million Series B led by major Japanese logistics firm AZ-COM Maruwa17 hours ago
The Evolution of the Crypto CEX Landscape: A Case Study on Binance
The Evolution of the Crypto CEX Landscape: A Case Study on Binance
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Why it matters:
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
A case for a bitcoin surge to $76,000 may be building beneath the boring price action, but there's a caveat
JPMorgan says Hyperliquid ETF inflows have stalled as competition mounts
Why Sandisk and Western Digital crashed 10% and what it means for bitcoin