Bitcoin Taps $65K Despite CLARITY Act Setback and Lack of US-Iran Deal: Weekly Crypto Recap
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After last week’s Federal Reserve FOMC meeting market attention shifted to whether the Senate would vote on the CLARITY Act before the August recess, with the timing decision revealed on Thursday evening. Bitcoin failed to breach $65,000 last Friday, was swiftly rejected to $62,400 and then slid to a monthly low of $62,200, underscoring regulatory uncertainty and downside risk for crypto markets, DeFi, DEX and CEX activity.
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After last week’s Federal Reserve FOMC meeting, all crypto eyes remained on the US, but this time it was focused on whether the Senate will vote on the highly anticipated CLARITY Act before the August recess. The decision became known on Thursday evening.
But before that, let’s rewind the clocks to last Friday when bitcoin tried to take down the $65,000 resistance in the morning. The rejection was swift, and the bears pushed it south to $62,400 within hours. The rebound attempt on Saturday was halted, and the next leg down drove it to a monthly low at $62,200.
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$ 65.12K
+1.16%Predictions Markets
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In This News
Coins
$ 65.12K
+1.16%Predictions Markets
See what traders are focused on
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Bitcoin Faces $496M Long Liquidation Risk If Price Drops Below $63,660
