The House Financial Services Committee will hold a hearing on the Clarity Act on July 17, as Bitcoin trades near $64,500 to $65,000 and Ethereum holds above $1,900. Congress is set to begin its summer recess soon after the hearing, making the discussion one of the last opportunities to advance crypto legislation before lawmakers leave Washington. The timing coincides with renewed institutional demand, as BlackRock added $139 million in Bitcoin holdings and spot Ethereum ETFs recorded $84 million in net inflows for the week ending July 11. The hearing focuses on whether the Clarity Act can provide enough regulatory certainty to sustain institutional capital flows into digital assets. South Korea's unexpected interest rate hike sent local stocks lower this week, but crypto markets reacted differently, with Bitcoin reaching its highest level in about three weeks and Ethereum triggering more than $30 million in short liquidations after reclaiming a key resistance level.
Bitcoin Holds $64,500 to $65,000 Range as BlackRock Adds $139 Million
Bitcoin spent Thursday trading between $64,500 and $65,000, extending a recovery that carried it to its highest level in about three weeks. BlackRock added another $139 million worth of Bitcoin to its holdings, while the iShares Bitcoin Trust now custodies more than 733,000 BTC. Larry Fink said this week that the current price of Bitcoin appears more stable than before and expressed confidence in financial markets over the next year.
Analysts note Bitcoin is approaching the short-term holder realized price, an area that has historically produced resistance as newer investors exit at break-even. A wallet that had been inactive for eight years moved 5,908 BTC, valued near $383 million, to a fresh address without touching an exchange. The transfer did little to disturb sentiment, as the market viewed it as a reshuffle instead of a liquidation.
Ethereum Reclaims $1,900 as ETFs Record $84 Million Inflows
Ethereum is trading around $1,900 after reclaiming an important resistance level and triggering more than $30 million in short liquidations. The ETH/BTC ratio jumped more than 17%. Spot Ethereum ETFs recorded $84 million in net inflows during the week ending July 11, breaking an eight-week streak of withdrawals. BlackRock's ETHA contributed to several of the strongest daily inflows.
Robinhood Chain, an Arbitrum-based Layer 2, is attracting activity through tokenized assets, AI applications, and NFT projects, all of which rely on ETH for transaction fees. The network continues to see development across these areas.
House Financial Services Committee Schedules Clarity Act Hearing for July 17
The House Financial Services Committee will meet on July 17 for a hearing titled "Building the Future of Finance: How the Clarity Act Unlocks Innovation." Congress is set to begin its summer recess soon after, positioning the hearing as one of the last meaningful chances to move crypto legislation before lawmakers leave Washington. The discussion centers on whether the Clarity Act can bring enough regulatory certainty to keep institutional money flowing into the sector.
FAQ
What is the Clarity Act hearing scheduled for July 17?
The House Financial Services Committee will hold a hearing on July 17 titled "Building the Future of Finance: How the Clarity Act Unlocks Innovation." The hearing takes place before Congress begins its summer recess, making it one of the last opportunities to advance crypto legislation before lawmakers leave Washington.
How much did BlackRock add to its Bitcoin holdings this week?
BlackRock added $139 million worth of Bitcoin to its holdings. The iShares Bitcoin Trust now custodies more than 733,000 BTC.
What were the Ethereum ETF inflows for the week ending July 11?
Spot Ethereum ETFs recorded $84 million in net inflows during the week ending July 11, breaking an eight-week streak of withdrawals. BlackRock's ETHA contributed to several of the strongest daily inflows.
