Live updates: WTI crude oil up 5% and back to $80, as bitcoin drops below $64,000
BTC above $65,000 even as the Senate punts the CLARITY Act to the fall
Bitcoin held near $65,200 on Monday, up 3.7% on the week, per CoinDesk data. The move caps a recovery from an early-August low near $62,000, and the whole top of the market came with it. Ether traded near $1,925 and BNB, Solana and TRON all posted weekly gains.
The strength held despite the Senate failing to pass the CLARITY Act before leaving for its August recess on Friday, mustering 51 of the 60 votes needed and pushing any action to September 14 at the earliest.
That the market rose anyway backs what strategists argued last week, that the delay was already priced, so the failure landed as confirmation rather than a fresh blow.
The bid is coming from flows, not headlines.
Spot ETFs have strung together consecutive days of inflows, and a softer dollar since the weak US jobs report has loosened the backdrop that pinned bitcoin through the summer.
Michael Saylor added to the mood over the weekend, posting Strategy's bitcoin-buy chart with the caption "Doing business," days after the firm disclosed selling about 1,638 BTC to fund buybacks, which markets read as a tease of another purchase.