Bitcoin Holds Above $64,000 as Ethereum Stays Firm, XRP, Dogecoin Slip Ahead of CLARITY Act Vote

Bitcoin traded above $64,000 on Thursday as investors await a decision on the CLARITY Act before Congress breaks for its August recess.

Notable Statistics:

• Coinglass data shows 95,106 traders were liquidated in the past 24 hours for $226.24 million.       
• SoSoValue data shows net inflows of $244.4 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $60.86 million.
• In the past 24 hours, top gainers include Lighter, Cardano and LayerZero.

Notable Developments:

• MSTR’s Phong Le Defends New Approach: ‘Strategy Needs Bitcoin, Bitcoin Doesn’t Need Strategy’
• Bitcoin ETF Inflows Pick Up to $626M in Three Days as Crypto Exec Says ‘Zero Bank Liquidity’ Era Is Ending
• Crypto Legislation Delay ‘Disappointing,’ but ‘Doesn’t Change the Direction of Travel’ for Digital Assets, Says Analyst
• TeraWulf’s AI Pivot Gains Momentum, Bernstein Maintains 100% Upside Call
• ‘Nobody Is Stopping Crypto’: CEO Brings Crypto.com Pay to Private Jet Charter Bookings
• Circle Price Targets Cut by Two Analysts—Here’s Why They Still Stay Bullish
• Bitcoin Has a Higher Chance of Hitting $50,000 Than $100,000 in 2026, Prediction Markets Say

Trader Notes:

Ted Pillows predicts Bitcoin’s weekly close will likely determine its next major move

• A weekly close above $65,000 could trigger a rally toward $74,000.
• A weekly close below $60,000 could open the door for a decline to $50,000.

Trader KillaXBT sees only two possible outcomes for Bitcoin either the current move is a failed breakout that leads to further downside or the failed breakout has already played out, meaning the market bottom is already in.

Despite the uncertainty, the analyst says he remains fully invested, holding a 2x swing long position and a full spot allocation. He chooses not to exit in pursuit of a potential 10% lower entry.

Crypto chart analyst Ali Martinez highlighted Bitcoin’s hourly chart is flashing a bullish signal, with a Morning Doji Star candlestick pattern forming.

The pattern is typically viewed as a potential bullish reversal, leading the analyst to expect a breakout if the signal is confirmed.

Image: Shutterstock