Bear market concerns are intensifying as bitcoin remains stuck below seventy thousand dollars, while optimism grows that the CLARITY Act could soon be approved. Several leading figures in the crypto sector believe the legislation is close to passing. At the same time, BTC continues to struggle with price momentum.
After weeks marked by sharp volatility and fresh multi year lows, bitcoin has managed to establish support, though strong resistance is still preventing a sustained breakout.
Last Friday, bitcoin tested support near sixty five thousand dollars after being rejected at seventy thousand and seventy two thousand earlier in the week. Buyers stepped in and prevented another decline. Instead, bitcoin rebounded and briefly climbed above seventy thousand during an uncommon weekend surge.
That move proved short lived. By Monday, the asset had fallen back below the key psychological threshold and began drifting lower. Following several days of sideways trading between sixty eight thousand and seventy thousand, bitcoin dropped under sixty six thousand amid growing predictions of deeper losses, with some extreme forecasts even pointing to ten thousand dollars.
The market responded with a bounce to just above sixty eight thousand earlier today, but sellers quickly pushed the price down again. BTC is now trading below sixty seven thousand, leaving it slightly down for the week compared with last Friday’s levels.
The altcoin market has also remained relatively subdued. XRP, BNB, and ADA are modestly higher, while ETH, LINK, and XLM are slightly lower.
Stronger gains were recorded by WLFI, PEPE, and ZEC, whereas HYPE posted the largest decline among higher market cap altcoins.
BTC stands at sixty six thousand seven hundred fifty dollars, down one percent. ETH trades at one thousand nine hundred thirty dollars, down two percent. XRP is priced at one dollar and thirty eight cents, up zero point three percent.
This week’s key crypto developments include:
The Ethereum Foundation released its 2026 roadmap, emphasizing post quantum security and plans to further raise the gas limit. The organization also intends to reorganize development into three main areas focused on scaling, user experience, and Layer 1 security.
Michael Saylor’s company Strategy purchased an additional 2,486 BTC for nearly one hundred seventy million dollars, despite holding substantial unrealized losses. The firm now controls more than 717,000 BTC.
Brad Garlinghouse stated that the CLARITY Act has a strong chance of approval, estimating a ninety percent likelihood due to growing bipartisan support.
Analytics firm Santiment reported that more than half of the total ETH supply is now locked in Ethereum’s proof of stake contract, marking the first time this milestone has been reached in the network’s eleven year history.
The founder of CryptoQuant suggested that older bitcoin addresses could eventually be frozen to guard against potential quantum computing threats.
Market analyst Willy Woo warned that bitcoin may be entering the second phase of a broader bear market cycle, indicating that a full recovery could still be months away.
This week’s chart analysis covers Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid.
