Bitcoin Price Hovers Above $64,400 as Senate Clarity Vote Looms
The cryptocurrency market remains cautious ahead of a crucial Senate vote on the CLARITY Act. Bitcoin price is trading above $64,400, while XRP price is around $1.05, both struggling with selling pressure.
The CLARITY Act has the potential to influence the short-term sentiment of big cryptocurrencies, but it requires 60 votes and currently has only 44 in favor. Senator Cynthia Lummis mentioned that she is still negotiating with Democrats on unresolved ethics provisions, stating that the safety measures offered are more than the last presidential ethics pledges.
A vote before August now looks unlikely, with no closure filed yet. John Thune, who leads the majority in the Senate, must move fast to leave any hope of a floor vote. Bitcoin and XRP prices are poised to gain further as long as current support levels hold, but failure to stay above $1.00 may expose XRP to lower support levels.