Bitcoin held near $64,206 on Aug. 7, slipping 0.5% over 24 hours and 0.6% over the week while trading below $65,000. Four straight days of U.S. spot ETF inflows and rebuilding derivatives leverage support demand, but the Senate's delay of crypto legislation removes an expected August catalyst.
Bitcoin traded between $64,114 and $64,916 on Aug. 7, unable to reclaim resistance above $66,000 even as U.S. spot Bitcoin ETFs extended a four-session inflow streak. The Senate's delay of a vote on the CLARITY Act until September and upcoming U.S. employment data left the asset supported by institutional demand but stuck in its range.
ETF inflows extend to four sessions
U.S. spot Bitcoin ETFs pulled in $137.6 million on Aug. 6, according to Farside, following $170.1 million on Aug. 3, $211.5 million on Aug. 4 and $244.4 million on Aug. 5 — a four-day total near $763.6 million. BlackRock's IBIT led Thursday's flows with $128.3 million, while Fidelity's FBTC added $11.2 million and VanEck's HODL recorded $32.8 million in outflows.
The $62,000 to $65,000 region has contained much of Bitcoin's recent trading. Analyst Daan Crypto Trades said the market is chopping sideways below $67,000, adding: "Above $67K things get exciting." He pointed to $69,000 to $72,000 as an area holding several higher-timeframe resistance levels.
CLARITY Act delay removes an August catalyst
The Senate will leave Washington without voting on the CLARITY Act before its August work period, which runs from Aug. 10 through Sept. 11. Senate Majority Leader John Thune said the bill would be queued when lawmakers return.
That legislation would set a federal digital asset market structure and clarify SEC and CFTC responsibilities. However, Republican leaders need Democratic support to overcome a filibuster, since the often-cited 60-vote threshold applies to cloture rather than the simple majority normally required for final passage. The delay removes an expected August policy event but does not change Bitcoin's legal status.
Leverage rebuilds ahead of jobs and inflation data
CryptoQuant analyst Amr Taha reported Bitcoin open interest recovering across Binance, Bybit and Gate.io. Binance open interest reached about $3.9 billion on Aug. 7, while Bybit stood near $2.14 billion and Gate.io around $2.09 billion. Combined open interest across those four exchanges reached about $8.86 billion, nearly 54% below the $19.21 billion recorded around Bitcoin's October 2025 peak. That suggests leverage is returning gradually, rather than approaching the crowded conditions seen near the previous high.
The Fed kept its target rate at 3.50% to 3.75% on July 29 in a 9-3 vote, with Beth Hammack, Neel Kashkari and Lorie Logan dissenting in favor of a 25-basis-point increase. The July employment report arrives Aug. 7, and July CPI data follows on Aug. 12, keeping Federal Reserve expectations central for markets.
Holding $62,000 to $64,000 keeps the current stabilization intact, but traders are likely to watch $67,000 and then $69,000 to $72,000 for clearer evidence that buyers have regained control.
Source: crypto.news
Trading involves risk.
Risk Disclaimer
