Bitcoin climbed back above the $66,000 mark after the White House reportedly reached an agreement on an ethics package linked to the CLARITY Act.
Until now, Democrats were demanding stronger guardrails on Trump’s business ties to cryptocurrencies as a non-negotiable condition of their votes. The bill needs 60 votes in the Senate to advance, making bipartisan support mathematically necessary.
The rally also pushed crypto sentiment into the neutral zone (40) for the first time in almost a month after a long period of fear and extreme fear.
Notable statistics
Data from Coinglass shows that 73,177 traders were liquidated in the last 24 hours for $225.70 million. Data from SoSoValue shows net inflows of $226.9 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $38.09 million. Over the past 24 hours, top losers include DeXe, Pi, and Pyth Network.
Last Developments
Trader Notes
Crypto Poseidon highlighted that Bitcoin bottomed near $60,000 despite calls for $45,000, but renewed euphoria at the high end of the range could signal another reversal. He expects BTC to peak at around $70,000 before gradually falling back towards $60,000 by September.
CryptosBatman sees Bitcoin testing the 50-day daily EMA, a level that has capped every major rally this year. A decisive breakout could signal a broader trend reversal, while another rejection would reinforce the dominant bearish structure.
MN Fund founder Michael van de Poppe noted that Bitcoin hit its highest level in over a month, signaling improving market dynamics, but the rally has yet to gain momentum.
The analyst says a decisive break above last month’s high of $67,000 could pave the way to $73,000.
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