Bitcoin and Ether posted small losses on August 9 while Solana outperformed the broader market, as traders weighed a newly scheduled Senate cloture vote on the CLARITY Act and looked ahead to next week's US inflation report. Bitcoin is testing resistance near $65,000, and Ether holds above $1,900 on rising ETF inflows.
Bitcoin dropped 0.38% to $64,738. Ethereum fell 0.24% to $1,911. Solana bucked the trend, gaining nearly 2% to lead altcoin gains. The total crypto market cap slipped 0.13% to $2.21 trillion, with 24-hour trading volume at $33.48 billion.
CLARITY Act cloture vote set for September 15
The mixed session follows Senator John Thune's move to file cloture on the CLARITY Act, setting up a cloture vote for September 15, once lawmakers return from summer recess. Prediction platform Polymarket now shows a 21% chance the bill passes in 2026, up from 13% on August 5.
Passage could draw more institutional buyers who have stayed on the sidelines because of a lack of clear guidelines, but the still-low odds are keeping a lid on prices. Most of the top ten cryptocurrencies by market cap traded in the red on August 9.
Traders eye next week's US inflation print
Beyond the CLARITY Act, traders are watching the US CPI report due August 12 for signs of whether inflation is cooling. Prediction markets currently put a 63% chance on the Fed holding interest rates steady between 3.50% and 3.75% at the September FOMC meeting. If the data shows inflation is cooling, it would further reduce the odds of a Fed rate hike and boost demand for risk-on assets like crypto.
Bitcoin stalls below $65,000
Bitcoin is testing resistance at $65,000, but weak buying pressure has kept it from breaking higher. Its RSI reading of 55 suggests momentum still favors bulls, though the line is dropping, a sign the bullish push is weakening; the CMF reading of -0.15 shows selling pressure outweighing buying pressure. A close above $65,000 could open the way toward $66,133. A break below the $64,731 support level could send Bitcoin toward $63,000 instead.
Ether holds above $1,900, Solana rebounds
Ether remains above $1,900 amid rising inflows into ETH ETFs, which recorded their biggest weekly inflow since April, according to a separate CoinGape report. Data from Hyperliquid shows four of the top five largest Ethereum positions on the exchange are long, suggesting traders expect the gains to hold.
Solana, meanwhile, is forming a rounded-bottom recovery pattern as it outperforms the broader market amid rising buying pressure for two straight days. That pattern could point to a rally of as much as 8.82% if Solana clears resistance at $76.
Source: CoinGape
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