Bitcoin traded near $79,385 and XRP hovered around $1.40 on Monday as traders assessed renewed uncertainty surrounding United States cryptocurrency legislation.
The uncertainty centered on the CLARITY Act, which former federal prosecutor Renato Mariotti said multiple lawmakers and congressional staff privately described as dead following a recent Washington visit. A Senate cloture vote remains scheduled for September 15, requiring 60 votes to advance debate on the measure.
Senator Cynthia Lummis warned that failure to pass comprehensive market-structure rules this Congress could postpone such legislation until 2030. Disagreements involving stablecoins, decentralized finance, and regulatory authority continue dividing supporters.
Technical Levels Under Scrutiny
Bitcoin's immediate support level sits around $79,000, with more robust demand expected around $77,500. Failure to hold that level could expose $75,000 support. Bulls need to recapture $80,500 to challenge $82,300 and the psychologically significant $85,000 mark.
XRP must hold $1.39, with next notable support at $1.35. Failure below $1.35 could put $1.30 within reach. Buyers must clear $1.43 and $1.46 to approach the $1.50 resistance range.
Institutional Demand Remains Steady
Bitcoin spot ETFs recorded $987 million in net inflows for the week of August 31 to September 4, marking three consecutive weeks of positive flows. Spot XRP funds attracted $18.96 million during the same period.
Bitcoin spot ETFs saw $218 million in net inflows for ether spot ETFs. Solana spot ETFs had net inflows of $6.1751 million, marking their 10th consecutive week of inflows, while HYPE spot ETFs recorded $12.2734 million in inflows.
The Federal Reserve meets September 15-16 with a policy decision scheduled for September 16, keeping interest rates and liquidity conditions central to traders' focus.
