Bitcoin held above the $66,000 mark on Wednesday as crypto market sentiment remained in the neutral zone and spot ETF inflows turned positive.
Senate Republicans unveiled an updated CLARITY Act draft featuring a ban on senior U.S. officials, including President Donald Trump, from sponsoring crypto for compensation until January 2029.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $65,964.52 |
| Ethereum | (CRYPTO: ETH) | $1,934.32 |
| Solana | (CRYPTO: SOL) | $78.05 |
| XRP | (CRYPTO: XRP) | $1.14 |
| Dogecoin | (CRYPTO: DOGE) | $0.07307 |
| Shiba Inu | (CRYPTO: SHIB) | $0.054260 |
Notable Statistics:
- Coinglass data shows 63,900 traders were liquidated in the past 24 hours for $161.26 million.
- SoSoValue data shows net inflows of $203.1 million from spot Bitcoin ETFs. Spot Ethereum ETFs saw net inflows of $37.5 million.
- In the past 24 hours, top losers include DeXe, Stable and Midnight.
Notable Developments:
- Bitcoin, XRP Snubbed As S&P Unveils Revenue-Focused Crypto Index
- Bitcoin Bear Market Over? Not Quite. Analyst Says $83,000 Is The Real Test
- Bitcoin Fell 50% and MSTR, BMNR, BSTR Are Paying the Price: What’s Happening?
- Bitcoin Long-Term Holders Hit Record Supply as ETFs Add $203M: What’s Going On?
- Pavel Durov Announces ‘Largest Rollout’ of Non-Custodial Crypto Wallets for Over 1 Billion Telegram Users—GRAM Token Lifts 7%
- XRP Whale Inflows to Binance Drop to $23M: Can the Triangle Breakout Hold?
Trader Notes:
Crypto chart analyst Ali Martinez highlighted $70,920 as Bitcoin’s key resistance level, based on the MVRV Pricing Bands. He said this level could trigger selling pressure as it aligns with the aggregate investor cost basis.
A sustained close above $70,920 would be needed to absorb overhead supply and confirm the continuation of Bitcoin’s rebound.
Trader KillaXBT believes Bitcoin has already formed its cycle bottom. He expects a liquidity sweep above the current range highs, followed by a false breakout and a drop below $62,000 to establish a higher low.
The anticipated correction is expected to be driven by weakness in traditional financial markets rather than crypto-specific factors.
Grayscale highlighted that, "The CLARITY Act can do for the industry what crypto ETFs did: unlock the next wave of adoption."
Photo: Sebastian Duda on Shutterstock.com