Bitcoin Mirrors Nasdaq Rally Despite $390M ETF Outflows and Fading Clarity Act Hopes

Woofun AI reports that Bitcoin (BTC) stabilized above $63,000 on Monday, mirroring U.S. equities as Nasdaq 100 index futures rose 0.5% to their highest level since July 2. This price action occurred despite a deteriorating regulatory outlook, with Galaxy Research head Alex Thorn significantly lowering expectations for the Clarity Act.

The cryptocurrency's 0.8% gain since midnight UTC reflects a tight correlation with traditional markets rather than internal momentum.

Structurally, the asset class is moving in lockstep with broader equity trends, as evidenced by the Nasdaq's recovery. This alignment suggests that macroeconomic factors are currently driving valuation more than crypto-specific catalysts.

Woofun AI data shows spot exchange-traded funds suffered a net $390 million outflow last week, marking the largest weekly withdrawal from U.S. spot bitcoin products in six weeks.

Notably, this included the first three-day stretch of outflows since the end of July. In contrast, Ether (ETH) ETF flows remained limited, while Solana (SOL) ETFs bucked the trend with their strongest weekly inflows since mid-May.

Legislative uncertainty remains a critical variable, as the probability of the Clarity Act passing in 2026 was slashed to 10% on Aug. 14. Prediction markets currently price the likelihood at around 17%, ahead of a cloture vote scheduled for Sept. 15 when the Senate returns from recess. Market observers expect further delays, signaling prolonged regulatory ambiguity.