Daily Crypto Roundup: Bitcoin Bounces Above $63K, Strategy Buys $100M BTC, SBF Pardon Shock & XRP CLARITY Act Delay

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Welcome back to the Daily Crypto Roundup. The crypto market is trying to recover today after one of the roughest weeks we have seen in a long time. Bitcoin is back above $63,000 after briefly falling below $60,000.
Ethereum is trying to hold around the $1,600 to $1,700 range.
XRP is sitting around $1.16.
Solana is near $66.
BNB is around $600.
And most of the market is finally seeing a bit of green again. But the big question today is simple. Is this the start of the recovery, or is this just a short bounce before the next move lower?
Because today, we have a lot to get through. First, we are looking at Bitcoin's rebound and why some analysts believe the recent sell off was not really about strategy or Michael Saylor at all, but about rising inflation and pressure from the wider economy. Then, we are looking at strategy buying another $100 million worth of Bitcoin, just days after the market panicked over its first small Bitcoin sale in years. We are also covering Sam Bankman-Fried officially asking Donald Trump for a presidential pardon, which brings the FTX scandal right back into the middle of the crypto conversation. Then we are looking at Zcash, which bounced hard after developers proposed a major new upgrade following a serious privacy pool issue. And finally, we are looking at Ripple and Coinbase pressing the US. Senate as the Clarity Act faces delays, and why this matters for XRP, Coinbase and the entire US crypto market.
So there is a lot going on today, and this is one of those episodes where the headlines actually matter.
Before we get into the first story, hit like if you are following the crypto market closely, because this is exactly the kind of week where most people panic, but the smart money starts paying attention. And as always, if you are buying crypto, selling crypto or just getting ready for the next move, check out Kraken. Kraken gives you access to Bitcoin, Ethereum, XRP, Solana and plenty more, all in one place. Crypto is risky, so only invest what you can afford to lose. But if you are looking for a trusted platform, Kraken is one to look at. Right, let's get into it. Bitcoin has bounced back above $63,000 after briefly dropping below $60,000, and that move matters because the market had just gone through a brutal 7-day losing streak. Bitcoin had fallen from around $74,000 down to below $60,000, which is a major move for the biggest asset in crypto. When Bitcoin falls like that, it does not just hurt Bitcoin holders. It hits everything. Altcoins get crushed. Leverage gets wiped out. ETF flows start looking weak. Retail sentiment turns negative. And suddenly, everyone who was bullish two weeks ago starts asking whether the bull market is over. But today's bounce is giving the market a little bit of relief. The important thing is not just that Bitcoin bounced. The important thing is why it fell in the first place. A lot of people blamed Strategy. That is understandable, because Strategy recently sold 32 Bitcoin. That was its first Bitcoin sale in years, and because the company is so closely tied to Bitcoin, the market immediately reacted.
People started asking whether Strategy had changed its strategy. Was Michael Saylor finally selling? Was the company under pressure? Was this the first sign of a bigger problem? But now, that theory looks weaker. Because Strategy has just bought another 1,550 Bitcoin for around 101 million dollars.
That takes its total holdings to 845,256 Bitcoin. That is an enormous amount of Bitcoin. And more importantly, it shows that Strategy is still a buyer, not a seller. So yes, the small sale got everyone's attention. But when you sell 32 Bitcoin and then buy 1,550 Bitcoin shortly after, it is hard to argue that the overall direction has changed. The more likely explanation is that the small sale was tactical.
It may have been linked to dividends, capital structure, or internal financing reasons. But the big picture is still the same. Strategy is still accumulating Bitcoin. And that is why the bigger explanation for Bitcoin's sell-off may not be strategy at all. It may be inflation. The argument being made today is that Bitcoin's tumble was more likely driven by rising inflation fears and pressure from the macro economy. And that actually makes sense. When inflation comes in hotter than expected, the market starts worrying that interest rates will stay higher for longer. If rates stay higher for longer, risk assets come under pressure. That means tech stocks, growth stocks, and crypto all get hit. Bitcoin may be seen by many people as digital gold, but in the short term, it still often trades like a high-risk asset. So when inflation rises, yields rise, the dollar strengthens, and liquidity tightens, Bitcoin can get hit hard. And that is exactly what appears to have happened. The bigger concern is the Bitcoin ETF market. Since the recent hotter inflation data, US listed spot Bitcoin ETFs have reportedly seen billions of dollars in net redemptions. That is a major deal. Because while everyone was focusing on strategy selling 32 Bitcoin, the bigger pressure may have been institutional money leaving through ETFs. That is the story the market needs to pay attention to. Not one small Bitcoin sale.