Bitcoin Stalls Near $64,283 as BNB Leads Altcoin Strength Amid ETF Inflows and Senate Gridlock
Bitcoin has been trading steadily near $64,283 over the past 24 hours, showing only a 0.66% increase. This comes after a choppy week for the cryptocurrency, but it is holding its ground thanks to returning ETF inflows. According to analytics insight, BNB led major gainers with a 3.26% rise, followed by Hyperliquid at 3.28%. The CLARITY Act remains stalled in the Senate, which is causing some traders to remain cautious.
The Federal Reserve held its benchmark rate at 3.50%-3.75% on Wednesday, with three policymakers dissenting in favor of a hike. This split vote kept risk assets cautious ahead of September's meeting. Bitcoin's price action remains tied to ETF flow trends and the Fed's rate outlook, with traders watching for fresh direction.
Some analysts believe that Bitcoin needs to break through the $65,000 resistance level to confirm its recovery, while others are concerned about seasonality, as August has historically been a negative month for the cryptocurrency. However, the near-term support zone remains between $63,800 and $64,000, with resistance building near $65,300.
Ethereum is trading at $1,901.73, down 0.50%, while BNB and Hyperliquid remain the most sensitive names to shifts in institutional risk appetite.