📉 Market Snapshot & Price Action
Overall Market: The global crypto market capitalization has seen a decline recently, down by over 3% today to around $3.47 trillion, reflecting a broader risk-off sentiment.
Bitcoin (BTC): Bitcoin has slipped about 3% in the last 24 hours to trade around $103,300. After briefly rallying toward $107,000, its rebound faded due to profit-taking and a cooling in the AI/tech trade sector. Key support remains near $100K-$102K, with resistance around $110K-$111K.
Ethereum (ETH): Ethereum has also seen a drop, down about 4.28% in the past day, trading near $3,432.
Altcoins: Major altcoins like XRP, BNB, Solana, Dogecoin, and Cardano are also down, with several slipping over 8% in the past 24 hours.
📰 Key Industry Developments
Regulatory Clarity in the US:
Optimism has been fueled by progress toward ending the recent US government shutdown.
There is movement on the regulatory front, with the U.S. Senate Agriculture Committee unveiling a bipartisan draft that would grant the CFTC clearer authority over digital commodities.
New IRS guidance is allowing crypto ETFs and trusts, further institutionalizing the asset class.
CFTC is reportedly preparing to authorize leveraged spot trading for Bitcoin and Ethereum on regulated U.S. exchanges like CME Group, Cboe, and Nasdaq, which could potentially pull trading volume from offshore platforms.
