Bitcoin Edges Higher Amid Hopes for Regulatory Clarity

Bitcoin's price nudged higher by 1.4% to $63,261 as investors await potential regulatory clarity from the U.S. Senate.

The Crypto Clarity Act, a proposed bill aimed at defining digital asset regulations more clearly, has revived risk appetite in crypto markets.

This optimism is backed by significant resurgence in Bitcoin ETF demand, with over $265 million poured into these products on July 8-9 alone.

On-chain data also suggests reduced selling pressure, as exchange reserves have dropped to multi-year lows and transaction activity has surged to its highest sustained level in 17 years.