Bitcoin Slips to $64K as Strategy Trims Holdings and Senate Punts CLARITY Act
Bitcoin Dips Toward $64K as Strategy Trims Its Bitcoin Position
Bitcoin slipped toward the $64,000 level on Monday after Strategy (formerly MicroStrategy) disclosed a sale of 1,690 BTC, a rare move for the company best known for accumulating bitcoin rather than reducing its position. The sale weighed on sentiment across digital-asset stocks, with Coinbase and custodian BitGo each falling around 2.7% intraday, and stablecoin issuer Circle down roughly 1.3%.
Adding to the cautious tone, Trump Media & Technology Group's latest quarterly filing showed the company held 9,477 BTC at the end of June, down only slightly from 9,542 BTC at the end of 2025 — but the position's dollar value fell sharply, from about $836 million to roughly $557 million, driven mainly by price declines rather than selling. The filing recorded around $218 million in unrealized losses on the company's bitcoin holdings for the first half of the year, a reminder that even modest reductions in holdings can mask much larger swings in paper value during a volatile stretch for the asset.
Despite the pullback, the broader market held up better than the headlines suggest: steady spot Bitcoin ETF inflows and a softer US dollar helped cushion the decline, doing more to support prices on the day than developments in Washington.
Senate Leaves CLARITY Act Unresolved Before August Recess
That's because Washington offered little help. The Senate adjourned for its August recess without a floor vote on the CLARITY Act, the crypto market-structure bill meant to divide regulatory oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Senate Majority Leader John Thune has since filed cloture, pushing the bill's next procedural test to mid-September.
The delay came despite a late push from the industry, including a letter from crypto companies urging Senate leadership to schedule a full vote, and public pressure from advocacy group Stand With Crypto. Unresolved disputes over ethics provisions — particularly how the bill addresses President Trump's personal crypto business interests — along with disagreements over stablecoin reward rules, remained the key sticking points heading into the break.
What It Means for the Market
The combination of a major holder trimming its position, a prominent crypto-treasury company nursing unrealized losses, and a stalled regulatory bill paints a market absorbing bad news without breaking down. ETF demand and dollar weakness are doing the heavy lifting for now, but traders will be watching whether Strategy's sale marks a one-off rebalancing or the start of a broader shift in sentiment among large corporate holders — and whether September brings any real progress on the CLARITY Act.
