Bitcoin Holds Above $64K Amid CLARITY Act Uncertainty

Bitcoin has held above $64,000 as investors await the outcome of the CLARITY Act vote before Congress breaks for its August recess.

According to Coinglass data, 95,106 traders were liquidated in the past 24 hours, resulting in a total loss of $226.24 million.

In contrast, spot Bitcoin ETFs saw net inflows of $244.4 million on Wednesday, while Ethereum ETFs experienced net inflows of $60.86 million, as reported by SoSoValue data.

Trader Ted Pillows predicts that the weekly close for Bitcoin will be a determining factor in its next major move.

If the weekly close is above $65,000, it could trigger a rally towards $74,000. Conversely, a close below $60,000 could lead to a decline to $50,000, according to Pillows.