At the start of the trading day in Asia, Bitcoin (BTC) maintained a price above $105,000, despite a slight decline of approximately 1 percent. According to Paris-based digital asset firm Flodesk, Bitcoin is currently exhibiting signs of price stabilization, adopting a strategic positioning amid market fluctuations. This stabilization near Bitcoin’s all-time high has coincided with a notable increase in trading volume and liquidity across altcoins. Flodesk highlighted a reduction in Bitcoin’s volatility even as global economic uncertainties continue to impact market dynamics. Additionally, a rise in call overwrite activity suggests traders are anticipating potential gains in the near term.
Meanwhile, CoinDesk reported that Bitcoin faces a significant resistance level around $108,800, posing a short-term risk of downward correction. However, sustained institutional interest is expected to provide support to the cryptocurrency. In a regulatory development, Republican members of the U.S. House of Representatives have introduced the “Digital Asset Market Clarity Act,” which aims to designate the Commodity Futures Trading Commission (CFTC) as the primary authority overseeing the crypto market. The bill also seeks to exempt certain decentralized finance services from Securities and Exchange Commission (SEC) oversight. Concurrently, the U.S. Senate is progressing on bipartisan stablecoin legislation, with committee hearings anticipated in the coming week.
At the Bitcoin 2025 conference, Hester Peirce, chair of the SEC’s Crypto Task Force, emphasized that traders should bear responsibility for their financial losses rather than relying on government intervention. She clarified that most crypto tokens do not qualify as securities; therefore, if tokens are not classified as securities, SEC registration is not required.
In venture capital news, Singapore-based Blockchain Founders Fund has surpassed a milestone of over 200 investments, focusing on supporting Web3 and blockchain startups. Within the current market context, Ethereum gained approximately 6 percent to stabilize near $2,650, while gold prices recorded modest gains. The Asia-Pacific markets experienced a downturn amid concerns over a slowing U.S. economy and inflationary pressures.
Additional developments include the SEC’s motion to dismiss its lawsuit against Binance, optimistic forecasts for Ethereum’s price movement, and Russia’s authorization for financial institutions to offer crypto-linked products to select investors.
Source: coindesk
