Crypto Market Holds Steady Amid CLARITY Act Delay and ETF Strength

Bitcoin and the broader crypto market traded in a tight range this week near $64,000-$65,000 as regulatory uncertainty collided with resilient institutional demand. The U.S. Senate’s decision to postpone the CLARITY Act vote until after the August recess removed a key near-term catalyst, yet spot Bitcoin ETFs recorded roughly $750 million in net inflows—the strongest weekly haul since April—while whales accumulated over 20,000 BTC.

CLARITY Act Vote Delayed to September

Senate Majority Leader John Thune confirmed the procedural vote on the Digital Asset Market Clarity Act will not occur before lawmakers return from recess in mid-September. Democrats continue to press for progress, but Polymarket odds of passage this year dropped sharply amid the compressed post-recess window before November midterms. The delay eliminates an expected August regulatory boost that many traders had priced in, leaving Bitcoin range-bound below $65,000 resistance despite four consecutive days of ETF inflows totaling more than $760 million. Institutional buyers, led by BlackRock’s IBIT, appear to be treating the setback as temporary rather than structural, while self-custody concerns after the Coldcard exploit may be accelerating the shift toward regulated products.

Other news:

Positive 📈

• U.S. spot Bitcoin ETFs attracted ~$750–$763M in weekly inflows, strongest since April.
• Whales holding 10–10,000 BTC accumulated over 20,000 BTC (~$1.2B) since late July.
• Cardano (ADA) surged ~7–20% on the week after launching an IBC testnet connection with Injective.
• July U.S. jobs report showed 23,000 jobs lost (vs. +80k expected), raising odds of easier Fed policy.
• Arthur Hayes reiterated a $1 million Bitcoin target tied to potential AI-driven liquidity events.

Neutral ⚖️

• Bitcoin price held steady in the $63k–$65k range throughout the week.
• A dormant 2011 Bitcoin wallet moved ~50 BTC (~$3.2M) after 15 years of inactivity.
• Strategy (MicroStrategy) sold 1,638 BTC for $104.7M while raising equity capital and adding to cash reserves.

Negative 📉

• Coldcard firmware vulnerability (originating 2021) enabled theft of ~1,600–1,800 BTC (~$100–$116M+) across multiple waves from thousands of addresses.
• Upbit announced September delisting of BONK, driving the meme coin to multi-year lows.
• Broader altcoin and DeFi segments underperformed as risk appetite remained selective.

What coins are moving the most lately?

Cardano (ADA) led large-cap movers with a roughly 15–20% weekly gain, driven by the new cross-chain interoperability narrative, trading near $0.20–$0.21. Smaller names such as ACE, BICO, GWEI and various low-cap tokens posted double-digit daily spikes on speculative volume. Bitcoin itself remains the dominant liquidity anchor but has shown limited upside momentum despite institutional buying. Potential buying opportunities appear concentrated in assets with clear catalysts (ADA’s interoperability progress) rather than pure beta plays, though elevated self-custody risk post-Coldcard may favor ETF exposure over direct holdings for some participants.

Bitcoin 7-day price evolution (approx. Aug 1–7): opened near $62.8k, climbed through $63.5k–$64.6k mid-week, and closed the period around $64.3k–$65k with low realized volatility.

ADA recent price evolution showing the weekly breakout:

The market’s ability to absorb the regulatory delay and a major hardware-wallet exploit while recording solid ETF inflows underscores a shift toward institutional resilience even as retail participation stays muted.