Bitcoin traded near $64,260 on Wednesday, bouncing off $62,800 support as traders awaited Federal Reserve minutes and a White House crypto meeting. A senior White House adviser voiced fresh optimism on the stalled CLARITY Act, while spot Bitcoin ETFs logged $298 million in net inflows.
Bitcoin held near $64,300 for most of the session as the top cryptocurrencies posted slight gains ahead of the release of the Federal Reserve minutes. The price bounced off the support level of $62,800, with resistance between $64,400 and $65,000 capping the advance.
Ethereum remained above $1,910, and Cardano, XRP and Solana continued to rally with the broader recovery. BNB also edged higher until 2 p.m. ET, when trading turned cautious ahead of the Fed release.
The minutes cover the Fed's July meeting and could show policymakers' views on inflation and interest rates. A hawkish tone would likely pressure cryptocurrencies on tighter financial conditions, but dovish signals could support Bitcoin and other risk assets by improving expectations for monetary easing.
White House grows 'bullish' on the CLARITY Act
White House crypto adviser Patrick Witt said he remains "optimistic and bullish" about the CLARITY Act during Tuesday's SALT conference in Wyoming. The administration will keep discussing the bill with Democratic lawmakers before the Senate's cloture vote on September 15, Witt said. That procedural vote would decide when the legislation moves into Senate debate, not whether it ultimately passes.
The proposal has stalled over matters including stablecoin rewards and conditions affecting cryptocurrency businesses. A compromise was reached on rewards previously, but Senate Banking Committee Chair Tim Scott said the conflict over stablecoins remains unresolved.
A separate crypto meeting was scheduled for 2:30 p.m. ET with President Donald Trump, regulators and Wall Street representatives, including SEC Chair Paul Atkins and CFTC Chair Michael Selig. The CFTC will follow with an Innovation Advisory Committee meeting covering crypto, prediction markets and AI. The CLARITY Act's 2026 approval probability rose two points to 20%, with $71,500 traded during the past 24 hours.
BTC targets $66,000 after testing key resistance
Bitcoin's RSI remains above the neutral 50 mark on the four-hour chart, and the four-hour Chaikin Money Flow indicator held its bullish trend at +0.16. Bitcoin must clear $64,400 before challenging the $65,000 resistance area and extending its recovery.
A confirmed move above $65,000 could open a shot at $65,500, a range that has produced significant resistance before. Clearing that level would carry momentum toward the recent high near $66,700 and then toward $66,000.
Immediate support sits around $64,000; a failure to hold that level would expose $63,500 before Bitcoin retests the stronger support near $62,800.
Spot Bitcoin ETFs add $298 million
U.S. spot Bitcoin ETFs recorded $298 million in net inflows on August 17, according to SoSoValue data. Spot Ethereum funds also stayed positive, adding $30.85 million over the same session. Regulated crypto products kept attracting new investment despite the broader market's uncertainty.
Source: CoinGape
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