Bitcoin Reclaims $65,000 Despite CLARITY Act Setback

The first week of August delivered strong momentum across the cryptocurrency market, with aggregate market capitalization surging from a low under $2.2 trillion to reach $2.9 trillion by Aug. 8. Bitcoin spearheaded the rally, reclaiming the $65,000 threshold for the first time in August and lifting its total market cap back past $1.3 trillion.

Market data shows bitcoin gained over 3% over seven days, ascending from $62,721 to a peak just above $65,300 on Friday before consolidating above key support. Crucially, bitcoin secured these gains despite regulatory headwinds following the U.S. Senate’s failure to pass the CLARITY Act.

While bitcoin anchored the broader market, Cardano (