HUGE! CLARITY ACT GETS MORE SUPPORT! FED FOMC & BITCOIN ANALYSIS & TRADFI TOKENIZATION!

**Tony Edward** (0:04)
Hey folks, welcome into the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. I'm your host, Tony Edward. On your way in, please hit that subscribe button, as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please be sure to follow and leave a five-star rating. Okay folks, let's quickly start with the price because today we had an FOMC hearing and the Fed decided to leave rates as is, not to cut or increase rates. And Bitcoin is still chopping in that low $60,000 range, so just going up and down kind of sideways within that range. So we really have to wait to see what the next move is. The good signals that we've been monitoring is that the RSI in the daily chart is in a neutral zone, still has room to run. So we could see a move up to the $70,000, $72,000 range. The question is, are we going to get rejected at that 200-day moving average, then roll over to lower lows, or are we setting up higher lows and we continue to go higher? And could the passing of the Clarity Act be a catalyst to help Bitcoin to find that bottom and keep moving higher? So these are the scenarios I'm looking at and being patient to see which one plays out. Obviously, the very bullish chart, which I've been highlighting in my newsletter as well as on the podcast, is on the weekly chart for Bitcoin. There is a bullish divergence that's forming and it's looking really good. The MACD on the weekly has also flipped the bullish. And if you look at the USDT stablecoin dominance, that has a bearish divergence in place. So the inverse, which makes sense, because when this is collapsing, it means the stablecoin liquidity is making its way into the market. And obviously, with Bitcoin, that bullish divergence means the price is starting to form a bottom and start to work its way up. Now, timing is really hard to figure out on these things because we only have the data as of today, right? So we have to see how it's going to go. Is there one more flush downwards before we move? Or the bottom is forming around this region?
I don't have a crystal ball, so I can't guarantee you or say, this is definitively the bottom. It's just a matter of seeing how these signals play out over time. But with the USDT dominance, as mentioned, a bearish divergence forming and the MACD, and this is on the weekly timeframe, has flipped bearish. So this is great.
This is what you want to see for the USDT stablecoin dominance, and this is what you want to see on the Bitcoin weekly chart. So very good signs here, guys. Again, patience is the key, and could the Clarity Act passing have an impact? Now, I mentioned earlier, any week there's an FOMC hearing, there's a lot of volatility. So anticipate that tomorrow and Friday, even into early next week, there could be some volatility with the price, a lot of chops, a lot of folks getting shaken out. But this is where we're not going to hyper-focus on the hourly, daily, and much more. We just got to sit back and let this bullish divergence complete here. But overall, we're in a good spot. I think the majority of the downside move has been completed and we're nearing that bottom. Now, speaking of the Clarity Act, we got Jack Dorsey's block has officially endorsed the passing of the Clarity Act. It says here, I'm writing to express our strong support for the Digital Asset Clarity Act and to respectfully urge the Senate floor consideration of this bill. So a lot of folks are sending in their approvals. Of course, the law enforcement agencies that have been endorsing the bill carry a lot of weight. So it should have a lot of impact on what the senators are able to do. And of course, we've been monitoring what the Democrats are seeing and doing. Yesterday, I reported that one of the major Democrats is looking to get a compromise done with the ethics item.
You know, their main gripe is that ethics and Trump and his crypto earnings and much more.
So hopefully, they're able to come to a compromise this week and they can get the bill out next week for a vote.
But here, we got another Democrat who's out of Nevada. Her name is Senator Catherine Cortez Masta, backs the Nuclarity Act proposal sent to the White House saying, we feel good about the chance to resolve the issue once and for all. So this is great. This is what you want to hear. Again, this is a sausage making process. A lot of people get triggered because, you know, they're very partisan. If they're Republican, if the Democrats do anything, they get fired up and knee jerk reactions and vice versa, right? We want to see the dialogue. We want to see the counteroffers. We want to see negotiations. This is how it happens, not just for crypto bills, but for every bill out there. So I like what I'm seeing and hopefully they're able to get it done. But as I've said, you know, numerous times, those who block this bill and they come out anti-crypto, get ready to get your assets handed to you in the midterm elections, a la what happened in 2024 So there will be consequences and crypto is ready to spend the money to, you know, go after these people who put up roadblocks in this whole process. So that's how it's going to play out as we've seen before. We are also seeing a lot more Republican senators come out and give their support. So it's important that they not just stay quiet, but to come out and endorse the bill. So Senator Tommy Trouberville voices his support for the Clarity Act. He says, I'm proud to stand with Senator Lummis on the Clarity Act to create clear rules of the road for the digital assets industry that allow the sector to thrive. So this is really great. However, the banks continue to try to put up a roadblock on the stablecoin yield situation. So the American Bankers Association CEO was on CNBC this morning talking about the Clarity Act and he had some interesting statements. He said, there's a lot of good in the Clarity Act. I do think that the crypto and banking sectors can co-exist. I think we can be the crypto capital of the world. We're working with the senators on this bill. So again, glad to hear there's less aggressive and fighting dialogue and more of, hey, we like the bill, we just need to sort this out, we're working on it. So their tune is changing because if they continue to come out aggressive as they've had in the past months, they're going to look like fools, especially when you have BlackRock, Goldman Sachs, Fidelity, Franklin Dempels and coming out and endorsing the bill.