While Bitcoin attracted attention in the cryptocurrency market by approaching the $ 80,000 level over the weekend, the S&P 500 index closed at a record level in traditional stock markets. This activity in the USA was among the prominent headlines of the week, depending on both macroeconomic developments and sectoral news flow.
Latest Situation in Bitcoin and Major Cryptocurrencies
Although Bitcoin fell to around $75,500 during the week due to the pressure created by military tensions with Iran, it recovered in the following days and rose to $78,180 during Asian trading hours. Bitcoin, which increased by 0.8 percent throughout the week, compensated for its losses, especially after the news of Tehran’s ceasefire proposal with the USA on Friday. According to CryptoAppsy data, Bitcoin traded at $78,180 during Asian hours. While Ethereum remained flat at $2,310, XRP found buyers at $1.39. Solana closed the week at $84.57. The thing that left its mark on the week was Dogecoin. Futures open positions in Dogecoin, which rose to $0.105 with a weekly increase of approximately 10 percent, reached the highest level of the year.
Records and Company Performances in Stock Exchanges
US stock markets broke records, supported by strong financial results from technology companies. While the S&P 500 index completed the week at its all-time high with a 0.3 percent increase, it continued its rise for the fifth week. The Nasdaq 100 index renewed its record by rising 0.9 percent. While Apple gained 3.2 percent in value with better-than-expected revenue expectations, the company’s shares jumped 6.5 percent with the news that Oracle participated in artificial intelligence studies for secret networks with the US Department of Defense.
Crypto Regulations and New Developments in the Industry
After long-standing discussions, the US Senate reached an agreement on the bill called the Clarity Act. The new regulation prohibits companies issuing stablecoins from giving interest based solely on holding reserves, while preserving the usage incentives offered by crypto companies on their platforms. Paul Grewal, chief legal officer of Coinbase, stated that the content of the bill is compatible with the demand of the banking sector to protect rewards based on real participation on crypto platforms.
Paul Grewal stated that the text of the law “protects the rewards of users who provide real participation on crypto platforms and networks, which coincides with the demands of banks.”
The text, prepared after eight months of negotiations, was presented to the Senate Banking Committee. If the law comes into force, the Treasury Department and the Commodity Futures Trading Commission (CFTC) will prepare detailed regulations within one year.
In addition to these developments in the cryptocurrency markets, ZeroStack CEO Daniel Reis-Faria stated that Bitcoin’s recent fluctuation in a certain price range is due to global economic uncertainty, not a sector-specific weakness. Reis-Faria pointed out that the capital coming out of ETFs and weak demand slowed down this process, but a re-capital inflow to the market from institutional investors or ETFs could lead to a rapid rise in Bitcoin.
Daniel Reis-Faria noted that the volatility in the Bitcoin market largely reflects global economic instability and that the re-entry of liquidity into the market could trigger price movement.
Looking ahead to the coming weeks, whether Bitcoin can clearly move above $78,000 depends on non-market developments such as a clear road map from the US Federal Reserve, an acceleration in ETF investment flows, or geopolitical news from the Strait of Hormuz.
