Bitcoin holds near $63.5k as Ethereum climbs, AI hype fades

Bitcoin traded at $63,536, a 2.5% dip from the previous day, while Ethereum surged 3.9% to $1,886.61, outpacing the leading crypto on the day [5]. The move comes as macro‑expert Raoul Visser declared the “AI trade’s over,” shifting investor focus toward core digital assets and as the U.S. Senate edged closer to a vote on the CLARITY Act, which has been lifting market sentiment [1][2].

AI hype recedes, Bitcoin steadies

Visser told host Anthony Pompliano that while AI remains a transformational theme, the era of “seven‑ or eight‑fold returns” from AI‑related equities is over, and investors should now expect roughly 30% annual returns from AI infrastructure [2]. He noted Bitcoin’s resilience despite trading roughly 50% below its all‑time high of $68,999, suggesting the crypto could “eventually move higher” and that he is adding exposure during the downturn [2]. The price action reflects this sentiment: Bitcoin’s open interest fell as traders trimmed long positions near the $67,000 ceiling, a level that had acted as short‑term resistance earlier this month [1].

CLARITY Act fuels broader rally, Ethereum leads

Parallel to the AI narrative, the Senate’s push toward a floor vote on the CLARITY Act has buoyed crypto markets, with both Bitcoin and Ethereum rallying on the news [1]. Ethereum’s 3.9% gain pushed it above its mid‑June highs, while the token’s market cap now sits at $227.7 billion, ranking it second among crypto assets [5]. Visser highlighted that Ethereum’s outperformance signals a shift toward “revenue‑side” opportunities, positioning the network for longer‑term health [2]. On‑chain data shows Ethereum’s circulating supply at 120.68 million, unchanged from the prior reporting period [5].

Market context and tokenomics

Bitcoin’s current price is roughly 2% below its 30‑day average of $64,800, a modest discount that may attract value‑seeking traders. Ethereum’s price is about 5% above its 30‑day average of $1,790, reinforcing its recent momentum. Both assets remain well above the $60,000 and $1,700 support levels that held during the last market correction, respectively [5]. No major unlock events are scheduled for either token in the near term, keeping supply pressure stable.

What to watch

• Bitcoin support at $62,000 and resistance near $66,500, levels that have framed recent price swings.
• Ethereum’s next resistance around $2,000, a round number that could trigger further inflows if breached.
• The Senate’s CLARITY Act vote deadline (expected before the August recess) as a regulatory catalyst for crypto‑related equities and ETFs.

The juxtaposition of waning AI hype and renewed legislative optimism underscores a potential reallocation toward core cryptocurrencies, with Bitcoin’s stability and Ethereum’s upside leading the narrative. Whether this shift sustains depends on the CLARITY Act’s fate and the broader market’s appetite for “revenue‑side” crypto exposure.