Bear Market Fears Grow as BTC Struggles Below $70K, CLARITY Act Resolution Nears: Weekly Crypto Recap
After a number of consecutive weeks of intense volatility and new multi-year lows, bitcoin has lastly discovered some assist but in addition vital resistance that continues to suppress its breakout makes an attempt.
Last Friday, the cryptocurrency examined the $65,000 assist after it was stopped at $70,000 and $72,000 days earlier. The bulls intervened at this level and didn’t enable one other breakdown. Just the alternative; bitcoin began to get well some floor and exceeded $70,000 in a uncommon weekend rally.
Nevertheless, that was one other short-term fakeout as the asset’s try failed in its tracks. By Monday, it had already misplaced that coveted psychological stage and started a gradual descent. After just a few days of buying and selling sideways between $68,000 and $70,000, it broke right down to below $66,000 yesterday amid multiple calls about further declines, and new lows of right down to $10,000 in some doomsday eventualities.
It reacted slightly effectively to this drop and jumped to only over $68,000 earlier at the moment. However, one other rejection awaited, and BTC now sits beneath $67,000 as soon as once more. This implies that its weekly efficiency is considerably damaging, given the truth that it traded barely above this stage right now final Friday after we published our earlier replace.
Even the extra unstable altcoin sector has not posted any vital strikes in both path. XRP, BNB, and ADA are barely within the inexperienced, whereas ETH, LINK, and XLM are with some losses.
More spectacular good points come from the likes of WLFI, PEPE, and ZEC, whereas HYPE has dropped probably the most from the larger-cap alts.
Market Data
Market Cap: $2.36T | 24H Vol: $95B | BTC Dominance: 56.4%
BTC: $66,750 (-1%) | ETH: $1,930 (-2%) | XRP: $1.38 (+0.3%)
This Week’s Crypto Headlines You Can’t Miss
Ethereum Foundation Flags Post-Quantum Security as Core Priority in 2026 Protocol Roadmap. The Ethereum Foundation printed a 2026 roadmap submit, saying it could prioritize post-quantum safety and additional will increase to the fuel restrict. It additionally desires to restructure its growth efforts into three core tracks protecting scaling, consumer expertise, and Layer 1 safety.
2,486 BTC: Strategy Doubles Down as Portfolio Hits Unrealized Loss. Although its monumental stash continues to be deep within the crimson (by way of unrealized losses), Saylor’s Strategy announced one other BTC acquisition this week, buying 2,486 BTC for just below $170 million. It now holds greater than 717,000 BTC.
Ripple CEO Garlinghouse Predicts CLARITY Bill Has 90% Chance of Approval Soon. Although banks, the crypto trade, and lawmakers proceed to battle to discover a decision to the extremely anticipated CLARITY Act, Ripple’s CEO Brad Garlinghouse said after the newest assembly that bipartisan curiosity within the laws is high, which is why he expects approval quickly.
Ethereum Staking Address Now Holds Over Half ETH Supply For First Time Ever: Santiment. Data from the analytics firm indicated that over half of ETH’s provide is now held by Ethereum’s proof-of-stake contract tackle for the primary time within the asset’s eleven-year historical past.
CryptoQuant Founder Proposes Freezing Old Bitcoin Addresses to Prevent Quantum Attacks. It could be years away from deployment, however quantum computing is a predominant concern inside the cryptocurrency group. CryptoQuant’s CEO proposed that outdated Bitcoin addresses would possibly have to be frozen to forestall quantum assaults sooner or later.
Bitcoin Entering Phase 2 Bear Market, Analyst Warns. As talked about earlier, analysts are speeding to supply their views on the bear market subject, suggesting that the asset could be months away from a extra profound restoration. Veteran chartist Willy Woo said BTC has strengthened its bear market pattern and has approached the second part of a multi-stage downturn.
Charts
This week, now we have a chart evaluation of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.
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