Bitcoin Stuck Near $64,000 as Senate Delays Crypto Clarity Act Vote

The price of Bitcoin hovered around $64,300 on Friday, showing little change from the day before and flat over the week. This stability comes as the Senate has delayed a vote on the Crypto Clarity Act until at least September.

The bill, which aims to set out which US regulator oversees which digital assets, needs 60 votes to pass but currently lacks the required support. Several Republican senators have publicly opposed it, while Democrats want stricter rules preventing President Donald Trump from profiting from crypto while in office.

In related news, XRP led major declines, down over 2% on the day to $1.02 and 5.5% over seven days. Solana fell by over 1% to nearly $73, and is down almost 2% on the week. Dogecoin slipped almost 1% to under 7 cents.

The upcoming US jobs and inflation data will be crucial in determining whether Bitcoin retests resistance around $66,000 or falls back toward $63,000. Spot bitcoin funds have taken 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.