Bitcoin Taps $65K Despite CLARITY Act Setback and Lack of US-Iran Deal: Weekly Crypto Recap

After last week’s Federal Reserve FOMC meeting, all crypto eyes remained on the US, but this time it was focused on whether the Senate will vote on the highly anticipated CLARITY Act before the August recess. The decision became known on Thursday evening.

But before that, let’s rewind the clocks to last Friday when bitcoin tried to take down the $65,000 resistance in the morning. The rejection was swift, and the bears pushed it south to $62,400 within hours. The rebound attempt on Saturday was halted, and the next leg down drove it to a monthly low at $62,200.

A bigger relief rally followed on Sunday morning when US President Donald Trump canceled the planned strikes against Iran and suggested that both sides might announce a permanent deal soon. Something that the Middle Eastern country denied. BTC jumped to $63,800, dipped back down to $62,200, and rocketed on Monday to $64,000 almost immediately.

The hopes of a deal intensified in the following days, with some reports claiming that it could be announced on Wednesday. Although this never materialized, BTC still kept itching higher and tapped $65,000 yesterday.

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