Bitcoin Ignores Wall Street’s $2 Trillion Surge as Crypto’s Clarity Deadline Arrives

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Welcome back to the Daily Crypto Roundup. Wall Street has added roughly the value of the entire cryptocurrency market to the S&P 500 this month, yet Bitcoin is barely moving. Meanwhile, the Clarity Act is running out of road. Tether is tokenizing Saudi real estate, and hyperliquid fund demand may be cooling. So, is Bitcoin quietly building a base before its next move, or is the money simply choosing artificial intelligence stocks over crypto? Welcome back to Crypto News Today, and this is your daily crypto roundup for Thursday, August 6th, 2026 Before we get started, follow the show, leave us a 5-star rating and share this episode. And a reminder about Kraken. Anyone who signs up to Kraken through our link in the description will receive 20 XRP from us. The link is right at the top of the description. This is not financial advice and crypto trading involves a risk of loss. The biggest political story remains the Digital Asset Market Clarity Act and the situation has become extremely tight. The United States Senate has still not clearly indicated whether it will advance the legislation before its scheduled summer recess. As of the latest reporting, the Senate had only two scheduled session days remaining before the August 7th break, with no official confirmation of when, or even whether, a procedural vote would take place. There are three realistic outcomes. Senate Majority Leader John Thune could start the procedural process before senators leave. The Senate could extend its session, or senators could return to the bill in September. That final option would not kill the legislation, but the Senate is expected to have only 14 working days across September and October, before the midterm campaign dominates the calendar. Negotiators are still discussing illicit finance provisions, agricultural issues and an ethics proposal intended to restrict senior government officials from profiting through crypto ventures. The White House has reportedly been considering compromise language proposed by senators Tom Tillis and Ruben Gallego. The Clarity Act is not dead, but the easy route has disappeared. A successful procedural vote could restore confidence. No vote before recess could push the fight beyond the midterms. That matters because the market has been waiting for a clearer division of authority between regulators and a more predictable legal framework for exchanges, token issuers and decentralized finance platforms. However, investors should be careful about assuming that passage would produce an instant Bitcoin rally. Regulation can remove uncertainty, but it cannot automatically create liquidity or demand.
Our second story takes us to Saudi Arabia, where Tether is expanding beyond the stablecoin business that made it famous. Tether says its Hadron tokenization platform will provide the infrastructure for institutional-grade tokenized real estate in Saudi Arabia. First data will act as the commercial lead, issuer and primary market operator, while financial technology company BKN301 will connect the platform with banking, payments, compliance and operational systems. The initial focus is real estate, but the model could eventually expand into energy, infrastructure finance and other real world assets. Tokenization represents ownership or economic rights through digital tokens, potentially enabling faster settlement and fractional participation.
Tether launched Hadron in 2024 and already operates Tether Gold, worth approximately $2.6 billion.
City has projected that tokenized securities could reach $5.5 trillion by 2030
Saudi Arabia's Vision 2030 strategy aims to modernize and diversify the economy beyond oil. The project is initially institutional and will depend on local regulation, custody and access rules. But Tether clearly wants to provide the rails for issuing and managing real world assets on chain. It does not want to remain only the company behind USDT. It wants a role in the infrastructure used to tokenize real estate, commodities, investment funds and potentially national infrastructure projects.
Now to the question dominating today's market. Why is Bitcoin failing to keep pace with American stocks? The S&P 500 has gained approximately 3.12% this month, adding around $2.1 trillion in market value and taking its total capitalization to a record $70.5 trillion.
Bitcoin, meanwhile, is up only around 2% and remains trapped near the same $64,000 to $65,000 area it occupied in July. This is not a broad risk on rally. Money is concentrating in artificial intelligence, semiconductor and mega cap stocks, which does not automatically benefit Bitcoin. Crypto also has its own problems. The cold card exploit has damaged confidence. The Clarity Act remains uncertain. Strategy has sold Bitcoin during three consecutive months. And higher bond yields are rewarding investors for keeping money outside crypto. Stablecoin liquidity has weakened as well. USDT supply has reportedly fallen from around $190 billion in April to $183 billion.
While USDC has declined from approximately $79.5 billion to $72 billion.
Falling stablecoin supply can mean less deployable capital is sitting inside crypto. When that available capital contracts, Bitcoin can struggle to maintain momentum even when traditional risk assets are performing well. And while the cold card incident remains fresh, remember that self-custody is only as strong as the process around it. Buy hardware wallets directly from the manufacturer. Verify every address and never approve a transaction in a rush. Our ledger link is also available in the description. Some traders believe the four-year cycle points toward an October bottom, so they are waiting. The bullish interpretation is that Bitcoin has absorbed negative headlines. A hawkish Federal Reserve and corporate selling without collapsing. The United States listed Bitcoin exchange-traded funds have taken in approximately $626 million this week. Although analysts want several consecutive days of inflows before calling it a sustained institutional recovery. For now, traders are watching support near $63,000 to $63,400 and resistance between $64,500 and $66,000.