12.05.202611:19 Forex Analysis & Reviews: Senate Banking Committee releases updated version of CLARITY Bill

While Bitcoin continues to churn around the $80,000–$82,000 range, the Senate Banking Committee has released an updated version of the CLARITY bill aimed at bringing regulatory clarity and setting new rules for the crypto market.

The document, which aggregates input from regulators, industry representatives, and lawmakers, is intended to address a number of pressing issues related to the regulation of stablecoins and their integration into the financial system. The updated text, in particular, backs a controversial provision that would ban paying yield for simply holding stablecoins, effectively equating such mechanisms with bank interest.

The crypto industry has generally welcomed the new stablecoin rules as a step toward legitimizing and recognizing stablecoins as reliable financial instruments. US banking representatives, however, have not been so positive: the banking lobby expressed concern that the measures do not go far enough. Their main fear is a potential outflow of deposits from traditional banks into stablecoins that could offer higher yields. That creates a dilemma between fostering innovation and protecting the stability of the existing banking system.

The CLARITY bill also contains an important, albeit less widely discussed, omission: the draft does not include restrictions that would bar President Donald Trump and other current federal officials from profiting from crypto projects. Many senators view this gap as creating a precedent that could be exploited for personal gain, prompting disagreement and calls for further debate.

In any case, a vote on the amended bill is scheduled for this Thursday, when the legislation's fate will become clearer. Objectively, the odds are low that the bill will be passed.

Trading recommendations

Bitcoin

Buyers are currently targeting a return to $82,200, which opens a direct path to $83,600 and then $85,600. The far target is the high around $87,900; breaking that would signal attempts to resume a bull market. On a decline, buyers are expected at $80,100. A fall below that area could quickly push BTC toward $78,200, with the far downside target around $76,300.

Ethereum

A clear hold above $2,360 opens a direct path to $2,407. The far target is the high near $2,446; breaking that would indicate strengthening bullish sentiment and renewed buyer interest. On a drop, buyers are expected at $2,307. A fall below that area could quickly push ETH toward $2,248, with the far downside target around $2,182.

What's on the chart

• The red lines represent support and resistance levels, where the price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.