Crypto Market Remains Cautious as Senate Delays CLARITY Act Vote Until September
The crypto market is still reeling from the U.S. Senate's decision to delay its vote on the CLARITY Act until September, a move that has added uncertainty and kept traders cautious. The bill, which aims to regulate stablecoins and other aspects of the cryptocurrency market, now faces a tough Senate vote in September after lawmakers remained divided over key issues.
Despite this regulatory limbo, Bitcoin continues to receive support from institutional demand, with U.S. spot Bitcoin ETFs recording $129 million in net inflows on August 6, marking a fourth straight positive session. Ether ETFs also saw strong demand, with net inflows of about $92.15 million over three days.
The immediate resistance level for Bitcoin is around $66,500, while Ethereum's first major resistance is near $1,950. If either asset breaks through these levels, the next targets could be around $70,000 for Bitcoin and $2,100 for Ethereum.