Bitcoin Surges Above $64K as CLARITY Act Vote Looms
Bitcoin continued its upward trend on Thursday, trading above $64,000 as investors awaited a decision on the CLARITY Act before Congress breaks for its August recess. The price of Bitcoin stood at $64,444.40, while Ethereum remained firm at $1,908.48.
The XRP and Dogecoin prices slipped ahead of the vote, with XRP trading at $1.03 and Dogecoin at $0.06887. Solana, on the other hand, saw a slight increase in price to $72.94.
According to Coinglass data, 95,106 traders were liquidated in the past 24 hours for $226.24 million. Meanwhile, SoSoValue reported net inflows of $244.4 million from spot Bitcoin ETFs on Wednesday and $60.86 million from spot Ethereum ETFs.
Ted Pillows predicted that Bitcoin's weekly close would determine its next major move, with a potential rally to $74,000 if it closes above $65,000. On the other hand, KillaXBT saw only two possible outcomes for Bitcoin: either the current move is a failed breakout leading to further downside or the market bottom is already in.
Crypto chart analyst Ali Martinez highlighted a bullish signal on Bitcoin's hourly chart with a Morning Doji Star candlestick pattern forming. The analyst expects a potential breakout if the signal is confirmed.