Bear Market Fears Grow As BTC Struggles Below $70K, CLARITY Act Resolution Nears: Weekly Crypto Recap

Some prominent names in the crypto industry believe that the bill will be approved soon. Meanwhile, BTC’s price woes continue.

After several consecutive weeks of extreme volatility and new multi-year lows, bitcoin has finally found support but also significant resistance that continues to suppress its breakout efforts.

Last Friday, the cryptocurrency tested the support of $65,000 after being stopped at $70,000 and $72,000 days before. The bulls intervened at this time and did not allow the other to collapse. On the contrary; bitcoin began to recover some ground and surpassed $ 70,000 in a rare weekend rally.

However, that was another short-term illusion as the commodity effort failed in its tracks. By Monday, it had lost that desired level of consciousness and began to slowly decline. After several days of sideways trading between $68,000 and $70,000, it dropped to below $66,000 yesterday amid many calls for further declines, and fresh dips of up to $10,000 in some doomsday scenarios.

It responded well to this decline and jumped above $68,000 earlier today. However, another rejection is expected, and BTC is now sitting below $67,000 again. This means that its weekly performance is somewhat negative, given the fact that it traded above this level at this time last Friday when we published our previous update.

Even the most volatile altcoin sector has yet to post any significant steps in either direction. XRP, BNB, and ADA are slightly greener, while ETH, LINK, and XLM have some losses.

The most impressive gains have come from the likes of WLFI, PEPE, and ZEC, while HYPE has dropped significantly in the major alts.

Market Data

Market Cap: $2.36T | 24H Volume: $95B | BTC dominance: 56.4%

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BTC: $66,750 (-1%) | ETH: $1,930 (-2%) | XRP: $1.38 (+0.3%)

This Week’s Crypto Topics You Can’t Miss

Ethereum Foundation Flags Post-Quantum Security as Key to 2026 Protocol Roadmap. The Ethereum Foundation has published a post-2026 roadmap, which it says will prioritize post-quantum security and a further increase in the gas limit. It also wants to reorganize its development efforts into three key tracks that include scalability, user experience, and Layer 1 security.

2,486 BTC: Strategy Turns Down Again as Portfolio Hits Unrealized Losses. While its massive stash continues to dip deeper into the red (in terms of unrealized losses), Saylor’s Strategy announced another BTC acquisition this week, buying 2,486 BTC for just under $170 million. It now holds over 717,000 BTC.

Ripple CEO Garlinghouse Predicts CLARITY Bill Has 90% Chance of Passing Soon. While banks, the crypto industry, and lawmakers continue to struggle to find a solution to the much-anticipated CLARITY Act, Ripple CEO Brad Garlinghouse said after a recent meeting that bipartisan interest in the law is high, which is why he expects approval soon.

Ethereum Staking Address Now Holds Over Half ETH Supply For First Time: Sentiment. The company’s analytics data showed that more than half of the ETH supply is now held by Ethereum’s proof-of-stake contract address for the first time in the commodity’s eleven-year history.

CryptoQuant Founder Proposes Freezing Old Bitcoin Addresses to Prevent Quantum Attacks. It may be years away from being implemented, but quantum computing is a big deal in the cryptocurrency community. The CEO of CryptoQuant proposed that old Bitcoin addresses may need to be frozen to prevent future quantum attacks.

Bitcoin Enters Phase 2 Bear Market, Analyst Warns. As mentioned earlier, analysts are quick to give their opinions on the subject of a bear market, suggesting that the stock may be months away from a deep recovery. Veteran chartist Willy Woo said that BTC has strengthened its bear market trend and is approaching the second stage of a multi-stage collapse.

Charts

This week, we have chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for a complete price analysis.