Crypto▲ Bullish
Bitcoin Holds $64K as Fed, CLARITY Act Dominate Crypto
Bitcoin holds $64K in an ascending channel as traders weigh Fed Chair Warsh's inflation stance and the CLARITY Act's prospects. A close above $65K could open $66K.
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The crypto market rose 0.72% to $2.2 trillion over the past 24 hours, recovering modestly as traders turned their attention to the Federal Reserve's July 28–29 policy meeting. Bitcoin held near $64,098, trading within an ascending channel that has provided support since the start of July. Ethereum changed hands around $1,800 in a neutral-to-bullish formation, while XRP bulls defended the $1.10 support level.
Federal Reserve Chairman Kevin Warsh will lead his second meeting since taking office in May. The central bank left rates at 3.50% to 3.75% in June. Warsh has signaled that policymakers remain intolerant of persistently high inflation and are focused on restoring price stability, several people familiar with his thinking said. The statement drops at 2:00 p.m. ET, followed by a press conference at 2:30 p.m. ET.
The CLARITY Act has emerged as a second major catalyst. The proposal would impose clearer rules on digital goods and split regulatory responsibilities between the SEC and the CFTC. Recent progress on ethics provisions boosted confidence in Bitcoin and Ether. Crypto-related stocks also rose, traders said. The bill still faces pushback over stablecoin incentives, government ethics rules, and enforcement criteria.