Le Clarity Act, loi clé pour la régulation des crypto-actifs aux États-Unis, n'a plus que 50% de chances d'être adopté cette année, selon Galaxy Research. Le calendrier serré du Sénat et un bras de fer politique entre Donald Trump et le Congrès menacent de reporter le texte, impactant la compétitivité crypto américaine.
Over six weeks, US Bitcoin ETFs lost $5.94 billion, the longest unbroken outflow since 2024, with Bitcoin dropping to a 21-month low near $58,000. Despite this, long-term holders (owning 83% of circulating BTC) remain unchanged, indicating capitulation among newer ETF investors rather than a broader market shift.
New research from Galaxy Digital suggests Bitcoin's cycle low may occur at higher price levels than in past bear markets, potentially between $62,000 and $53,600. Analysis indicates a less speculative market and a 'calm top' could raise the floor, though demand data shows a cautious picture.
A 2011 Casascius physical Bitcoin coin holding 25 BTC has moved this week, converting the artifact into spendable cryptocurrency. The coin, valued at $1.78 million, was transferred to a new address, marking a custody transition rather than a confirmed sale, amid a broader market selloff.
The CLARITY Act has stalled in Senate Banking deliberations, threatening comprehensive crypto market rules. Galaxy Research gives it roughly 50-50 odds of passage this year. The stall creates an unintended experiment: if exchanges can operate in the unsettled regulatory perimeter around stablecoin rewards, the market could generate empirical data on whether exchange-funded inducements actually drain bank deposits—a debate currently fought with projections ranging from $2.1 billion to $6.6 trillion. The stablecoin market stands at over $320 billion against $19.1 trillion in US commercial bank deposits.
