BTC rises 3.7% weekly to $65,200 despite Senate postponing crypto legislation, driven by spot ETF inflows and a softer dollar.
Bitcoin traded near $65,200 on Monday, up 3.7% for the week, recovering from an early-August low of $62,000. Ether and other major cryptocurrencies followed, with Ether holding around $1,925.
The rally persisted despite the Senate delaying the CLARITY Act until mid-September, failing to secure the 60 votes needed before its August recess. Analysts suggested the market had already priced in the delay, interpreting the outcome as confirmation rather than a setback.
Spot ETF inflows and a weaker dollar after a disappointing US jobs report supported the upward move. MicroStrategy’s Michael Saylor added to sentiment, hinting at potential further bitcoin purchases after the firm sold 1,638 BTC for buybacks.