Bitcoin Holds Above $65,000 as Senate Delays CLARITY Act Vote

What happened: Bitcoin traded steadily above $65,100, up 3.7% for the week, even as the U.S. Senate failed to advance the CLARITY Act—a key crypto regulatory bill—before its August recess. The bill secured only 51 of the 60 votes needed, pushing further action to at least September 14. Despite the legislative delay, spot BTC ETFs continued to attract inflows, and a softer U.S. dollar (following weak jobs data) provided additional support for crypto prices. Standard Chartered initiated coverage of Chainlink (LINK) with a $200 price target for 2030, citing tokenization trends.

Why it matters: The resilience of bitcoin prices in the face of regulatory uncertainty suggests that macroeconomic factors and ETF inflows are currently more influential drivers than legislative developments. The market’s muted reaction to the CLARITY Act’s delay indicates that regulatory headwinds may already be priced in, while continued institutional flows provide a stabilizing force. However, the lack of clear regulatory guidance remains a long-term risk for the sector.

Source: CoinDesk