Delayed US Crypto Legislation Weighs on Bitcoin, Institutional Demand Remains Strong

Bitcoin's price has been trading near $65,098, up 0.88% over the past 24 hours, as investors weigh in on the delayed US crypto legislation.

The Senate's decision to delay the Clarity Act vote until at least September has removed a potential market catalyst and added regulatory uncertainty to the mix.

Despite this, institutional demand remains strong, with Bitcoin whales holding 10,000 to 10 BTC accumulating more than 20,000 BTC since July 29. US spot Bitcoin ETFs have also recorded four consecutive days of inflows totaling $754 million.