CLARITY Act to be Discussed on January 15, Potentially Reducing Crypto Market Manipulation by 70-80%
- Legislative Agenda: The US Senate Banking Committee is set to discuss the CLARITY Act on January 15 at 18:00 (UTC+3), aiming to combat fraudulent transactions and misleading trading activities, which could significantly reshape regulatory frameworks in the crypto market.
- Market Manipulation Expectations: Analysts predict that if the CLARITY Act is enacted, manipulation rates in the cryptocurrency market could decrease by 70-80%, potentially facilitating a quicker entry of large institutional funds into the market by 2026, thereby promoting healthier market dynamics.
- Legislative Process: If the bill passes the committee, it will be presented to the Senate General Assembly, and if approved, it will move to the House of Representatives, highlighting the complexity of the legislative process required for it to become law.
- Political Controversies: Ongoing debates include Democrats' demands for explicit provisions to prevent high-ranking officials from profiting from crypto activities, particularly targeting Trump and his family's digital asset ventures, illustrating the political maneuvering and conflicts of interest surrounding crypto regulation.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 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 stock.
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 | 36118.443 | 48059.221 | 60388.463 | 72329.241 | 84658.483 | 96599.261 | 108928.503 |
| Fibonacci | 48059.221 | 57330.369 | 63058.094 | 72329.241 | 81600.389 | 87328.114 | 96599.261 |
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