Bitcoin Holds Above $64K as US-Iran Tensions Offset by ETF Inflows and Reg Reform

Bitcoin has managed to stay above $64K despite rising geopolitical tensions between the US and Iran. The digital asset gained about 1% during Saturday's session, outperforming a largely flat cryptocurrency market.

The increased uncertainty across global markets due to the escalating conflict was offset by steady inflows into spot Bitcoin ETFs. According to SoSoValue, U.S. spot Bitcoin ETFs recorded $132.3 million in net inflows on July 17.

BlackRock's iShares Bitcoin Trust (IBIT) accounted for $136.48 million in fresh investments, which more than offset a $4.18 million outflow from Fidelity's FBTC. Other major funds reported no significant daily flows.

The proposed CLARITY Act continues to boost confidence in the digital asset market by addressing shortcomings exposed by the collapses of Celsius, Voyager, and FTX. Market participants are awaiting the release of updated bill language expected next week.