Bitcoin Holds Fragile Range amid CLARITY Act Further Delay

Daily View

Bitcoin is holding a fragile range around the mid-$70,000s after rebounding above $76,000, with price action shaped by tighter liquidity, heavy tactical short positioning, and macro uncertainty tied to U.S.-Iran negotiations and broader FX-driven risk reallocation. Market sentiment remains cautious rather than outright bearish, as institutional demand continues to provide support through large treasury-style accumulation, including Strategy’s latest major BTC purchase, even while U.S. crypto market structure legislation faces further delay. The broader crypto market is under pressure from DeFi-specific stress after the Kelp DAO exploit triggered sharp TVL outflows and a steep drawdown in Aave, reinforcing security and counterparty risk as the day’s key sector theme.