Crypto Market Stagnant as XRP Dips 2%, CLARITY Act Vote Delayed

Bitcoin's price remains unchanged on Friday, despite the delayed vote on the CLARITY Act until September. Meanwhile, other cryptocurrencies such as Ethereum and Dogecoin hold steady, but Ripple (XRP) dips by 2%.

The market saw significant liquidations in the past 24 hours, with Coinglass data showing $201.31 million in losses for 76,590 traders. In contrast, SoSoValue reports net inflows of $128.7 million from spot Bitcoin ETFs on Thursday, and $92.2 million from Ethereum ETFs.

Notable losers include Audiera, Ondo, and Filecoin. Senator Cynthia Lummis (R-Wyo.) expressed frustration over the stalled progress of the CLARITY Act but vowed to continue pushing for its passage. She argued that the bill is necessary to establish clear U.S. crypto rules and protect consumers from scams.

CryptosBatman analyzed Bitcoin whale activity, finding mixed signals with wallets holding over 10,000 BTC selling for three straight months while smaller holders remain neutral or accumulate. Trader Gum predicts a potential mid-August grind higher followed by a prolonged decline to new lows, potentially triggering a breakdown to attractive long-term accumulation levels at $57,000.