The Senate went on holiday. The crypto bill did not move.
The floor vote was delayed before the August recess — officially over ethics rules, with banks lobbying against. Next procedural vote: September 15. Since March, the industry has run on regulators' interpretation rather than law, and the difference is simple: officials can withdraw an interpretation. They cannot withdraw a statute.
Ether ETFs outdrew bitcoin's for the first time.
$3.87 billion into ether funds in August; roughly $750 million out of bitcoin's. Across July and August, $9.3 billion into ether. Worth noting before anyone calls it a milestone: the money didn't arrive from outside. It rotated across the room. Rotations reverse.
Bitcoin traded on the jobs report, not on bitcoin.
It held $62,000–$65,000, then turned down after August 13. It firmed on a weak jobs report, wobbled ahead of inflation data, moved on Middle East headlines — the same inputs, in the same order, that moved shares. Nothing that happened this week was actually about bitcoin.
Sources: Latham & Watkins policy tracker; The Block; Yahoo Finance, August 2026.