CLARITY Act Vote Delay Sparks Uncertainty for Bitcoin and XRP Markets

The Bitcoin and XRP prices have been cautious due to the anticipation of a crucial Senate vote on the CLARITY Act. The act requires 60 votes, but currently has only 44 in favor and 56 against. Senator Cynthia Lummis mentioned that she is still negotiating with Democrats on unresolved ethics provisions.

A vote before August now seems unlikely as there's no cloture resolution filed yet. John Thune, the Senate majority leader, needs to act fast to leave any hope of a floor vote. The lack of a vote has caused uncertainty in the market, contributing to selling pressure.

The Bitcoin price is trading above $64,400 and XRP around $1.05. Ethereum remains over $1,900 with the overall market consolidating. Despite geopolitical tensions surrounding Hormuz shipping negotiations, risk appetite was held back in markets due to uncertainty.