Bitcoin remained above $65,000 on Monday as investors largely looked past the Senate’s failure to advance the CLARITY Act before its August recess. Continued spot ETF inflows and weakness in the U.S. dollar provided a more supportive backdrop for BTC.
Bitcoin’s Weekend Volatility Hits Multi-Year Low
Bitcoin traded within an unusually narrow range over the weekend. Its high-to-low spread on Saturday was just $350, according to TradingView data.
That was the smallest Saturday range since Nov. 25, 2023, when Bitcoin moved only $297. BTC was worth roughly $38,000 at the time, making Saturday’s tight range particularly notable given its current price above $65,000.
The subdued movement also reflects how much Bitcoin’s volatility has compressed relative to its higher price level. Weekend trading is typically quieter because institutional desks, market makers and ETF-related activity are less active outside regular market hours.
Strategy Raises Dollar Reserves to $4.65B
Strategy sold 1,690 BTC last week for $108.6 million and used the proceeds to buy back 1,152,020 STRC preferred shares.
The company also generated $653.1 million from the sale of 6.59 million MSTR shares. It placed $650 million into its U.S. dollar reserve and retained another $3.1 million as cash.
The reserve now totals $4.65 billion. Strategy’s Bitcoin holdings declined to 840,447 BTC, acquired for $63.36 billion at an average purchase price of $75,385.
The company has another $785.2 million available for preferred-share repurchases and $1 billion set aside for MSTR buybacks.
MSTR shares rose 0.5% before the market opened Monday while BTC traded near $65,000.
Standard Chartered Projects LINK at $200
Standard Chartered expects Chainlink to be among the potential winners from the expansion of tokenized financial assets. The bank initiated coverage of LINK with a $200 target for the end of 2030, compared with roughly $8 currently.
Geoffrey Kendrick, Standard Chartered’s head of digital asset research, said the migration of traditional assets onto blockchains and into DeFi should increase demand for dependable data and infrastructure.
Chainlink already connects around 70% of global DeFi markets, Kendrick said. More tokenized assets and onchain activity could therefore generate greater demand for Chainlink services and fees, supporting LINK’s long-term value.
However, the outlook depends on tokenization continuing to expand and Chainlink maintaining its competitive position. Slower adoption or stronger rivals could undermine the thesis.
TSMC Revenue Jumps 45% on AI Demand
Taiwan Semiconductor Manufacturing Co. reported a 45% increase in July revenue to NT$467.58 billion, or approximately $14.5 billion, offering another indication that AI chip demand remains robust.
The company, which manufactures semiconductors for Nvidia and Apple, is expected by analysts to record 46.8% sales growth in the current quarter.
TSMC recently raised its 2026 capital-spending and revenue expectations, planning $60 billion to $64 billion in capital expenditure. The company expects AI chip demand to remain strong through 2027 and beyond.
SK Hynix’s $38 billion expansion plan announced Friday further points to continued investment in AI infrastructure.
For crypto markets, sustained demand for AI chips supports the broader risk-on environment. Bitcoin remained around $65,200 Monday and was higher on the week.
H100 Takes Bitcoin Holdings to 3,506 BTC
European Bitcoin-focused company H100 completed a Bitcoin-for-Bitcoin acquisition that CEO Sander Andersen described as the largest public Bitcoin equity M&A transaction in European history.
The deal added 2,455 BTC to H100’s holdings, increasing its total from 1,051 BTC to 3,506 BTC. No cash was exchanged and the transaction did not add debt.
The acquisition was completed at a 1.0-times net asset value multiple and lifted Bitcoin per fully diluted share by 5%.
H100 stock climbed 6% Monday.
Bitcoin Ignores CLARITY Act Setback
Bitcoin traded around $65,200 Monday, up about 3.7% over the previous seven days, according to CoinDesk data. BTC has now recovered from an early-August low near $62,000.
Ether traded around $1,925, while BNB, Solana and TRON were also higher over the week.
The gains came despite the Senate failing to advance the CLARITY Act before recess. The bill received 51 votes, short of the 60 required, with the earliest possible Senate action pushed to Sept. 14.
The limited market reaction suggests traders had already expected the delay. Instead of treating the Senate outcome as a new negative catalyst, investors appear to have viewed it as confirmation of an outcome already reflected in prices.
Market flows remain the bigger driver.
Spot Bitcoin ETFs have continued to attract money, while a weaker dollar following the disappointing U.S. employment report has improved financial conditions for risk assets.
Strategy Chairman Michael Saylor also sparked fresh speculation about another BTC purchase by posting the company’s Bitcoin-buying chart alongside the message “Doing business.” The post came shortly after Strategy disclosed a sale of around 1,638 BTC to fund share buybacks.
