Bear Market Fears Grow as BTC Struggles Below $70,000 and Approaches CLARITY Act Resolution: Weekly Crypto Recap

Some of the most prominent names in the crypto industry believe the bill will be passed soon. Meanwhile, BTC’s price battle continues.

Last Friday, the cryptocurrency tested the $65,000 support after stopping at $70,000 and $72,000 days earlier. The bulls intervened at this point and did not allow another disruption. Quite the opposite; bitcoin started to recover some ground, surpassing $70,000 in a rare weekend rally.

Nevertheless, this was another short-term fake mistake as the asset’s attempt failed. By Monday, the country had already lost that coveted psychological level and began to gradually decline. After trading sideways between $68,000 and $70,000 for a few days, the price fell below $66,000 yesterday amid multiple calls of further declines and new lows as high as $10,000 in some doomsday scenarios.

It responded quite well to this drop, jumping to just over $68,000 earlier today. However, another rejection awaited and BTC is now below $67,000 again. This means that the weekly performance is slightly negative, given that the price was trading slightly above this level at this time last Friday when we published our previous update.

Even the more volatile altcoin sector has not shown significant moves in either direction. XRP, BNB and ADA are slightly in the green, while ETH, LINK and XLM are seeing some losses.

More impressive gains are coming from the likes of WLFI, PEPE and ZEC, while HYPE has fallen the most among the bigger alts.

Market data

Market Cap: $2.36 trillion | 24H volume: $95 billion | 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 headlines you shouldn’t miss

Ethereum Foundation marks post-quantum security as a core priority in its 2026 protocol roadmap. The Ethereum Foundation published a roadmap to 2026, saying it would prioritize post-quantum security and further gas cap increases. It also wants to restructure its development efforts into three core tracks: scalability, user experience and Layer 1 security.

2,486 BTC: Strategy doubles as portfolio suffers unrealized losses. Although the massive supply is still deep in the red (in terms of unrealized losses), Saylor’s Strategy announced another BTC acquisition this week, purchasing 2,486 BTC for just under $170 million. It now owns over 717,000 BTC.

Ripple CEO Garlinghouse Predicts CLARITY Bill Will Soon Have a 90% Chance of Approval. While banks, the crypto industry and lawmakers continue to struggle to find a solution to the long-awaited CLARITY Act, Ripple CEO Brad Garlinghouse said after the most recent meeting that bipartisan interest in the legislation is high, which is why he expects passage soon.

Ethereum Staking Address Now Holds More Than Half of ETH Supply for the First Time: Santiment. Data from the analytics firm indicated that more than half of ETH’s supply is now held by Ethereum’s proof-of-stake contract address, for the first time in the asset’s eleven-year history.

CryptoQuant’s founder suggests freezing old Bitcoin addresses to prevent quantum attacks. It may still take years to implement, but quantum computing is one of the top concerns within the cryptocurrency community. CryptoQuant’s CEO suggested that old Bitcoin addresses may need to be frozen to prevent quantum attacks in the future.

Bitcoin enters phase 2 bear market, analyst warns. As previously mentioned, analysts are rushing to weigh in on the topic of the bear market, suggesting the asset may still be months away from a deeper recovery. Veteran charlotist Willy Woo said BTC has strengthened its bear market trend and entered the second phase of a multi-phase downturn.

Charts

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