Market cools before the Clarity hearing: bitcoin at 63,000
Bitcoin slipped back to around 62,900 dollars on Thursday evening and ethereum gave up 4%. Hyperliquid lost over 11%, while tokenization token Ondo led the entire top 100 at +14%.
The crypto market took its foot off the gas on Thursday evening, a day before the key Clarity Act hearing in the US Congress. Bitcoin slipped to around 62,900 dollars (roughly €55,000), well below this week's top of 65,000 dollars. Ethereum gave up more than 4% to about 1,830 dollars (roughly €1,600), with solana (-2%) and XRP (-2%) also in the red.
Hyperliquid biggest loser, Ondo the big outlier
The most striking decliner among large caps was Hyperliquid (HYPE), down more than 11%. At the other end of the spectrum stood Ondo (ONDO), up over 14%, leading the entire top 100. The fuel: tokenization momentum. With the launch of T. Rowe Price's active crypto ETF (touching Ondo-style real-world-asset themes) and Wall Street initiatives to bring stocks and IPOs on-chain, the tokenization narrative is clearly on the rise.
Profit-taking after a strong week
The pullback follows a strong week in which soft US inflation data lifted the market. Analysts call it healthy profit-taking: earlier this week the market defended higher levels for the first time in months, and ETF flows improved for both bitcoin and ethereum.
All eyes on Washington
Direction for the coming days will likely be set by Friday's July 17 Clarity Act hearing. A constructive signal from Congress could restore risk-on sentiment; a stalemate could extend the profit-taking into the summer recess.
Sources: CoinDesk, crypto.news, market data (prices July 16, 2026). Last checked: July 16, 2026.