3 weeks ago
Bitcoin’s (BTC) terms made a caller play precocious of $93,500 connected Jan. 13 arsenic lawmakers pushed backmost deliberations connected the long-awaited CLARITY Act, a measure designed to specify crypto marketplace operation successful the United States.
Key takeaways:
Bitcoin continues to rally contempt the CLARITY Act markup being pushed to precocious January.
Exchange netflows stayed low, and the SOPR hovered adjacent 1, signaling minimal profit-taking.
Retail request for BTC remains debased during this betterment rally, arsenic liquidity remains considerably thin.
Bitcoin four-hour chart. Source: Cointelegraph/TradingViewBitcoin gains arsenic volatility compresses aft CLARITY Act delay
Senate committees, including Agriculture and Banking, postponed planned markups of the CLARITY Act to the last week of January. Senate Agriculture Committee Chair John Boozman confirmed the delay, citing unresolved disagreements implicit stablecoin incentives, DeFi oversight, and bureau jurisdiction.
While earlier expectations had already shifted to 2026, the latest intermission further clouds the prospects for swift legalization. Yet BTC terms enactment suggests traders are mostly unfazed.
Over the past 24 hours, Bitcoin traded successful a choky range, concisely dipping beneath $91,000 earlier breaking supra $93,500 during the New York trading session. The deficiency of assertive selling during the CLARITY Act hold contrasts with anterior regulatory scares, erstwhile speech inflows typically surged.
This time, speech netflows remained muted, signalling that investors are not positioning for an imminent downside shock, according to XWIN Research.
Bitcoin speech netflow for each exchanges. Source: CryptoQuantThe Spent Output Profit Ratio (SOPR) information reinforces that calm. The metric hovers astir oregon somewhat beneath 1, the SOPR indicates constricted profit-taking and onchain spending overall. This could beryllium interpreted arsenic a diligent market, with holders extending their clip skyline alternatively than rotating capital.
At a broader level, the CLARITY Act is progressively viewed arsenic an integration milestone alternatively than a binary hazard event. Even earlier ceremonial passage, Bitcoin appears to beryllium transitioning toward a much “institutional-grade” holding profile.
Related: Bitcoin ‘OG whales’ merchantability $286M, but likelihood of $100K BTC stay high
ETF liquidity and retail lack temper optimism
However, this patience comes with caveats. Crypto Analyst Darkfost noted the largest liquidity drawdown ever recorded successful spot Bitcoin exchange-traded funds (ETFs). With an mean realized terms adjacent $86,000, galore ETF inflows since the October 2025 all-time precocious are present underwater. More than $6 cardinal has exited spot ETFs, though flows person stabilized implicit the past 2 weeks.
Bitcoin ETF drawdown levels. Source: CryptoQuant/XMeanwhile, retail information remains mostly absent. CryptoQuant information indicates that 30-day BTC request from tiny buyers (between $0 to $10,000) shows profoundly antagonistic readings, a stark opposition to anterior bull phases.
This suggests the existent scope is supported chiefly by larger players. Adding to caution, the Coinbase premium scale has yet to flip bullish. Market commentator CryptoGodJohn said,
“Biggest indicator to support an oculus connected is Coinbase premium. Until we get a affirmative flow, I don't deliberation we volition spot a beardown reversal.”
Bitcoin Coinbase Premium Index. Source: CoinGlassRelated: Bitcoin shows resilience amid Powell DOJ probe: Will BTC terms hold?
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