Bitcoin Taps $65K Amid Clarity Act Delays and Middle East Uncertainty

Bitcoin reached $65,000 despite a setback for the CLARITY Act and no US-Iran deal. Last week's Federal Reserve FOMC meeting drew attention to the US, but this time it was focused on whether the Senate would vote on the highly anticipated CLARITY Act before August recess.

Just before the decision, Bitcoin tried to break through the $65,000 resistance, only to be rejected and fall back to $62,400. A rebound attempt on Saturday was short-lived, and the price dropped to a monthly low of $62,200.

The situation changed when US President Donald Trump canceled planned strikes against Iran and suggested that both sides might announce a permanent deal soon. Although Iran denied this possibility, Bitcoin jumped to $63,800, dipped back down, and then rocketed on Monday to $64,000.

Hopes for a deal intensified in the following days, with some reports claiming it could be announced on Wednesday. While no announcement was made, Bitcoin continued to rise, eventually tapping $65,000 yesterday.