Bitcoin and ether experience minor declines, while Ripple's XRP sees a 5.5% drop over the week, marking the largest loss among major cryptocurrencies as the Senate departs without addressing the market structure bill.
By Shaurya MalwaUpdated Aug 7, 2026, 4:43 a.m. Published Aug 7, 2026, 4:17 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Bitcoin remains around $64,000 as the Clarity Act vote is postponed until September. (Shutterstock)SummaryShow- Bitcoin remained steady at around $64,300, showing little movement for the week following the Senate's decision to delay a vote on the Crypto Clarity Act until at least September.
- While major cryptocurrencies showed mixed results, XRP led the downturn, with BNB and Hyperliquid’s HYPE performing better over the past week.
- Recent inflows into spot bitcoin funds have supported prices near $63,000 to $64,000, but forthcoming U.S. employment and inflation data may influence whether bitcoin attempts to break through resistance at $66,000 or retreats toward $63,000.
On Friday, Bitcoin was priced at approximately $64,300, remaining largely unchanged from the previous day and exhibiting no significant weekly movement, following the Senate's announcement that it would not address the Clarity Act prior to its August recess.
XRP was notably the weakest performer, declining over 2% to $1.02 and experiencing a 5.5% decrease over the week. Solana slipped by more than 1% to just under $73, marking close to a 2% weekly decline. Dogecoin fell nearly 1% to below 7 cents, while ether remained stable at $1,897, showing only a slight weekly drop. BNB held steady at $591, reflecting a 1% increase for the week. Hyperliquid's HYPE experienced a minor dip of under 1% to nearly $56, but still led the majors with a 1.3% gain over the week.
The proposed legislation, which would clarify which U.S. regulatory body oversees various digital assets, requires 60 votes for approval, and its current support is uncertain with indications that it may not secure even 50 votes. Several Republican senators have publicly opposed it, and Democrats are advocating for stricter regulations to prevent President Donald Trump from benefiting from cryptocurrency during his time in office.
Trump reported over $1 billion in earnings from his cryptocurrency activities in 2025. Senate Majority Leader John Thune indicated that a vote is expected in September, when lawmakers reconvene on September 14, with three weeks available to tackle pending issues, including government funding and sanctions against Russia.
Between August 3 and August 5, spot bitcoin funds saw inflows totaling around $626 million, enough to maintain support in the $63,000 to $64,000 range, but insufficient to breach resistance levels between $66,000 and $66,600.
In the upcoming week, the U.S. employment figures and July inflation statistics will be released. The Federal Reserve maintained interest rates at 3.50% to 3.75% in July, although three officials voted for an increase. A robust jobs report or persistent inflation could bolster arguments for tighter monetary policy, which tends to negatively impact bitcoin.
Despite consistent inflows throughout the week, Bitcoin has struggled to surpass the $66,000 mark. Next week’s employment and inflation data will be crucial in determining if it can make another attempt or if it will fall back to the $63,000 range.
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The Evolution of the Crypto CEX Landscape: A Case Study on Binance
The Evolution of the Crypto CEX Landscape: A Case Study on Binance
Binance continues to lead as the premier cryptocurrency exchange, branching out from spot and derivatives trading into real-world assets, payment solutions, savings, yield products, and a wider array of financial services.
By CoinDesk ResearchJun 29, 2026Commissioned byBinanceBinance remains the leading cryptocurrency exchange, extending its offerings from spot and derivatives to include real-world assets, payment solutions, savings, yield options, and broader financial services.
Why it matters:
Binance continues to be the top exchange in the cryptocurrency space, expanding its services beyond spot and derivatives to encompass real-world assets, payment solutions, savings, yield products, and an extensive range of financial services.
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