Bitcoin and ether edged slightly lower, while XRP led losses among major cryptocurrencies with a 5.5% weekly drop, as the U.S. Senate adjourned without taking up the market structure bill.
Bitcoin hovered around $64,300 on Friday, showing little change on the day and remaining flat for the week after lawmakers confirmed the Clarity Act would not be considered before the August recess.
XRP was the weakest among large-cap tokens, falling over 2% on the day to $1.02 and down 5.5% over seven days. Solana slipped more than 1% to roughly $73, extending its weekly decline to nearly 2%. Dogecoin dipped करीब 1% to below $0.07, while ether held steady at $1,897 with a slight weekly loss. BNB traded around $591, up about 1% on the week. Hyperliquid’s HYPE eased less than 1% to near $56 but remained the top performer among majors with a 1.3% weekly gain.
The proposed legislation, which seeks to clarify which U.S. regulators oversee different digital assets, requires 60 votes to pass. It remains uncertain whether it even has majority backing. Several Republican senators have voiced opposition, while Democrats are pushing for stricter rules to prevent President Donald Trump from benefiting financially from crypto activities while in office.
Trump disclosed more than $1 billion in income from crypto ventures in 2025. Senate Majority Leader John Thune said a vote is expected in September, when lawmakers return on Sept. 14 with a limited window to address a crowded agenda that includes government funding and a Russia sanctions bill.
Spot bitcoin ETFs drew about $626 million in inflows between Aug. 3 and Aug. 5, helping support prices in the $63,000–$64,000 range but falling short of breaking resistance between $66,000 and $66,600.
Markets are now focused on upcoming U.S. economic data, including the jobs report and July inflation figures. The Federal Reserve held rates steady at 3.50%–3.75% in July, though three policymakers favored a hike. Strong employment data or persistent inflation could reinforce expectations of tighter policy, typically a headwind for bitcoin.
Despite steady inflows, bitcoin has struggled to push past $66,000. Next week’s economic data will likely determine whether it attempts another breakout or retreats toward $63,000.
