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Bitcoin Holds Above $65,000 as CLARITY Act Delay Fails to Shake Market

Spot ETFs are still drawing inflows and a softer dollar is helping Bitcoin, even as the Senate delays another CLARITY Act vote until September.

By Zenz van der Wielen
• 2 min read
Bitcoin Holds Above $65,000 as CLARITY Act Delay Fails to Shake Market

Key Takeaways

  • Bitcoin traded near $65,200 on Monday and was up 3.7% for the week, even after the U.S. CLARITY Act was delayed.
  • The wider crypto market also recovered, while spot ETFs logged several straight days of inflows and a weaker dollar gave prices an extra lift.
  • Michael Saylor added to the upbeat tone with a post about Strategy, while traders are now focused on inflows, the dollar, and September.

Bitcoin was holding near $65,200 (€56,500) on Monday, putting it 3.7% higher on the week even though the U.S. Senate failed to pass the CLARITY Act before recess. The setback in Washington did little to knock the market’s biggest crypto off course.

The Market Shrugs Off the Senate Delay

The latest move extends a rebound from an early-August low close to $62,000 (€53,700). Other major crypto assets moved higher too, with Ether trading around $1,925 (€1,670) and BNB, Solana, and TRON all posting weekly gains.

On Friday, the Senate secured 51 of the 60 votes needed for the CLARITY Act, but that was still not enough to move it forward. As a result, the next round of consideration is now delayed until at least September 14. The bill is intended to provide more clarity on crypto classification, taxes, and compliance, but traders appeared to have already expected the delay.

Flows Matter More

Market observers say the current support is coming more from capital flows than from policy headlines. Spot ETFs have recorded inflows for several days in a row, and the weaker dollar after the disappointing U.S. jobs report has also improved the macro backdrop that had been pressuring Bitcoin earlier this summer.

That makes the price action less sensitive to political delays in Washington. For European crypto readers, the takeaway is that U.S. ETF flows and macro data can still matter more than a single Senate vote.

Saylor Keeps the Tone Up

Michael Saylor also helped keep sentiment positive over the weekend by posting Strategy's bitcoin-buy chart with the caption "Doing business." The post came a few days after the company said it had sold about 1,638 BTC to fund buybacks, which many traders took as a possible sign that another purchase could follow.

Strategy has already added more than 10,000 BTC over the past period, reinforcing the idea that institutional demand for Bitcoin is still alive. For now, though, the market is mainly watching ETF inflows, moves in the dollar, and the next political update in September.

Institutional allocation is also drawing wider attention. In a recent analysis on long-term demand, institutional inflows showed how even small allocations from large investors could continue supporting bitcoin demand over time.

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