Bitcoin rebounds toward $64K. CLARITY Act nears a Senate vote

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Bitcoin claws back some ground, Washington finally sets a vote, and another Bitcoin ETF calls it quits. Here’s what you need to know:

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Bitcoin rebounds toward $64K as the Coldcard hack fades into the background

Bitcoin rose 1.6% over 24 hours, climbing as high as $64,160, its best level since July 31, before easing back. The rebound follows a rough stretch triggered by a cold-wallet exploit over the weekend and fresh selling from the world’s largest corporate BTC holder.Source: goodcryptoX

Roughly 1,816 BTC, about $114M, has been drained from more than 5,200 addresses since July 30 in an attack that exploited a firmware flaw in Coldcard wallets. Sentiment hasn’t caught up with the price action: the Crypto Fear & Greed Index sits at 25, still “extreme fear.” Spot Bitcoin ETFs shed $61.5M last week before pulling in $170M on Monday alone, while ETH ETFs took in $27.4M last week and then saw $11.4M walk out the door on Monday. 

Adding to the unease, the yen slumped almost 4% after the U.S. Treasury confirmed it joined Japan in coordinated market intervention, reviving carry-trade comparisons to August 2024. Though Bitcoin’s -0.90 correlation with USD/JPY over the past year suggests dollar strength is the bigger risk to watch, not a carry-trade unwind.

Cardano is the week’s clear standout elsewhere: ADA jumped to $0.195, its highest since July 4, with market cap up 24% on the week. The move is happening as the number of wallets holding any ADA has fallen by 7,070 over two months, meaning the rally isn’t being driven by returning retail but by fewer, more committed holders absorbing supply. 

Futures open interest hit a record 2.79B tokens alongside the most aggressive buy-side flow among majors, and there’s real product news behind it too: Leios testnet progress, Hydra scaling, Mithril upgrades, a Pyth price-feed integration, and fresh Catalyst developer funding.Source: goodcryptoX

Clarity Act gets its Senate floor vote before recess, but the 60-vote math still isn’t there

Senate Majority Leader John Thune confirmed on August 3 that H.R. 3633, the Digital Asset Market Clarity Act, will get a floor vote before the chamber breaks for recess, upgrading the bill’s status from probable to scheduled. That doesn’t answer the harder question: whether Republicans can find the roughly seven Democratic votes needed to clear the 60-vote filibuster threshold standing between a floor vote and actual passage.

Source: X

As of the confirmation, the bill still wasn’t on the official floor calendar and no cloture motion had been filed. If leadership waits until Wednesday, August 6 to file cloture, the earliest possible vote lands Friday, August 8, leaving almost no room before the Senate disperses for its state work period.

The bill’s core move is jurisdictional: the SEC keeps oversight of investment contracts and tokenized securities, while the CFTC picks up full spot-market authority over digital commodities, a major expansion from its current derivatives-only reach. That split hits hardest on the roughly $680B in tokens whose securities-versus-commodities status remains unresolved. Bitcoin, already treated as a commodity with an established derivatives market and spot ETF access, changes the least.

Three disputes are keeping the vote count uncertain:

• Votes: The Senate Banking Committee passed its version 15-9 in May, with Democrats Ruben Gallego and Angela Alsobrooks voting yes in committee but explicitly refusing to promise the same on the floor.
• Stablecoin yield: Banking’s draft bans stablecoin platforms from paying yield outright, treating any platform that does as a de facto bank.
• Ethics rules: The latest draft introduces a temporary ban on senior officials issuing their own digital assets, set to run until 2029, but this provision hasn’t secured White House backing yet.

Prediction markets aren’t pricing confidence either way: Polymarket puts the bill’s odds of becoming law this year near 16%, Galaxy Research around 30%. A missed vote wouldn’t put any exchange or token in immediate legal jeopardy, but it would push realistic passage into mid-2027, especially since even a signed bill carries a 360-day effective date before most SEC and CFTC rules actually take hold.

Hashdex is shutting down its Bitcoin ETF after it never cracked $15M in assets

Hashdex is closing its U.S. spot Bitcoin ETF, one of the funds that entered the market in the wake of the SEC’s original 2024 approvals, after it topped out at just $14.7M in assets under management.Source: SEC filing

Per an SEC filing made Monday, the Hashdex Bitcoin ETF (NYSE Arca: DEFI) will stop trading after market close on August 17 before being delisted. Shareholders still holding shares at that point should receive cash distributions around August 28, once the fund finishes selling off its remaining Bitcoin.

The Brazil-based asset manager said the decision followed a review of assets under management, trading liquidity, operating costs, investor interest, and how the fund fit within its broader lineup. Hashdex still runs more than $200M across the rest of its U.S. product suite.

The fund’s history goes back to September 2022, when it launched as a Bitcoin futures product under the DEFI ticker, before converting to spot exposure in August 2023 while holding roughly 5,500 BTC. Hashdex later tried to expand its U.S. lineup with a combined Bitcoin-and-Ether ETF, but the SEC delayed a decision on that filing back in August 2024.

The closure ends a run of more than two years in a spot Bitcoin ETF market that’s proven brutally top-heavy since launch, leaving little room for smaller entrants to pull in meaningful flows once the largest issuers locked in early leads.

Strategy sold another $105M of Bitcoin last week, bought back $81M of STRC

Strategy raised $104.73M last week by selling 1,638 BTC, and pulled in another $290.6M through a fresh sale of common stock, according to an SEC filing made Monday.

Source: X

The company used part of the proceeds to repurchase 912,143 shares of its high-yielding preferred stock, STRC, for $81.2M, and added $250M to its USD reserve, bringing the total to $4B. The sale trims Strategy’s holdings to 842,138 BTC, acquired for $63.51B at an average price of $75,419, meaning last week’s coins went out below the company’s own cost basis, in line with its recent pattern of selling at a loss to fund the balance sheet.

The timing lines up with a separate announcement over the weekend: Strategy confirmed it’s keeping STRC’s annual dividend rate at 12% and has no plans to recommend a cut until the shares trade consistently near their $100 stated value, which is effectively the reason behind the steady drip of bitcoin sales and stock issuance.

MSTR was down 1.9% pre-market, tracking a weekend slide in bitcoin to $62,500, while STRC was little changed.

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