Bitcoin targets $66,000 as White House turns bullish on CLARITY Act

Bitcoin held near $64,260 on Wednesday after bouncing off $62,800 support, ahead of Fed minutes and a White House crypto meeting.

White House digital assets adviser Patrick Witt said at the SALT conference in Wyoming that he remains "optimistic and bullish" on the CLARITY Act, with a Senate cloture vote scheduled for Sept. 15.

U.S. spot Bitcoin ETFs recorded $298 million in net inflows on Aug. 17, while spot Ethereum funds added $30.85 million, according to SoSoValue data. The CLARITY Act's 2026 approval probability rose two points to 20 percent on prediction markets, with $71,500 traded in the past 24 hours.

Bitcoin must clear $64,400 before challenging the $65,000 resistance area. A confirmed move above $65,000 could open a path toward $66,000, with the recent high near $66,700 as the next milestone.

Fed Minutes and White House Meeting Set the Tone

The Federal Reserve's July meeting minutes, released at 2 p.m. ET, could reveal policymakers' views on inflation and interest rates. A hawkish tone would likely pressure risk assets, while dovish signals could support Bitcoin and other cryptocurrencies.

The White House crypto meeting at 2:30 p.m. ET with President Donald Trump was set to include SEC Chair Paul Atkins, CFTC Chair Michael Selig, and representatives from the financial industry. The CFTC will follow with a separate Innovation Advisory Committee meeting covering crypto, prediction markets, and AI.

CLARITY Act Faces Key Procedural Vote

Witt said the administration will continue discussions with Democratic lawmakers before the Sept. 15 cloture vote, which would determine whether the Senate begins formal debate on the bill. The proposal has stalled over stablecoin compensation and conditions affecting crypto businesses.

Senate Banking Committee Chair Tim Scott said the stablecoin issue has resurfaced despite a prior compromise. "I thought the stablecoin issue was resolved, but it's back on the table," Scott said.

The bill's passage would provide the first comprehensive federal market structure for digital assets, potentially resolving the regulatory uncertainty that has kept some institutional capital on the sidelines. The SEC has separately proposed a bespoke "Regulation Crypto Assets" framework built on four pillars: a startup exemption allowing issuers to raise up to $5 million over four years, a capital-raising exemption with tiers up to $75 million, an investment contract safe harbor, and a new qualified purchaser definition. Industry participants still view legislative passage as the priority for legal certainty, given that agency rules can be challenged in court and reversed by a future administration.

Technical Levels Point to $66,000

Bitcoin's RSI remains above the 50 mark on the four-hour chart, with the Chaikin Money Flow indicator holding at +0.16. Immediate support sits around $64,000, with $63,500 and $62,800 as subsequent levels if the uptrend stalls.

Ethereum traded above $1,910, while Cardano, XRP, and Solana continued to rally with the broader market recovery. BNB also advanced modestly ahead of the Fed announcement.

The $298 million ETF inflow on Aug. 17 marked a reversal from the prior week's $389.71 million in net outflows, according to SoSoValue data. Derivatives liquidations reached $75.04 million over 24 hours, with $70.57 million from short sellers getting squeezed.

If Bitcoin fails to hold above $64,000, the next support levels sit at $63,500 and $62,800. A break below the latter would invalidate the near-term bullish setup and shift focus to the $59,310-$62,415 support zone tracked by analysts. On the upside, a sustained move past $65,000 would face the next test near $66,233, with the broader resistance band extending to $76,638.

This article is for informational purposes only and does not constitute investment advice.