Senate Advances Crypto Clarity Act After Last-Minute Deal
- Bill Approval Status: The Senate Banking Committee advanced the Crypto Clarity Act with a 15-9 bipartisan vote on May 14, following hours of closed-door discussions, marking a significant step in digital asset regulation.
- Negotiation Details: Under pressure the night before the hearing, lawmakers made progress on ethics safeguards for government officials, yet disagreements persisted over non-custodial software developer protections, highlighting the complexity and competing interests involved in the legislation.
- Revisions Included: The final compromise incorporated revisions to banking rules, tokenization provisions, and consumer protections while removing sections linked to the Blockchain Regulatory Certainty Act, reflecting lawmakers' efforts to balance market stability with innovation.
- Next Steps: The bill will combine with language from the Senate Agriculture Committee for full Senate consideration, although key issues remain unresolved, with Democrats pushing for stricter ethics requirements, indicating ongoing scrutiny of regulatory responsibilities in the crypto industry.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 5 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 69437.164 | 72744.082 | 75766.164 | 79073.082 | 82095.164 | 85402.082 | 88424.164 |
| Fibonacci | 72744.082 | 75161.76 | 76655.404 | 79073.082 | 81490.76 | 82984.404 | 85402.082 |
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