“Major cryptocurrencies like Bitcoin, Ethereum, XRP, and Dogecoin rallied on Tuesday as investors reacted to reports that the White House had agreed to an ethics package tied to the crypto Clarity Act.”
Top coins’ performance on Tuesday
| Cryptocurrency | 24-hour Change | Closing Price |
| Bitcoin | 1.99% | $66,556.16 |
| Ethereum | 1.34% | $1,929.10 |
| XRP | 2.80% | $1.1436 |
| Dogecoin | 1.66% | $0.07339 |
What is the CLARITY Act?
The Digital Asset Market Clarity Act of 2025 (H.R. 3633), widely known as the CLARITY Act, is a proposed U.S. federal law designed to create a comprehensive regulatory framework for cryptocurrencies and digital assets.
Introduced in May 2025 by House Financial Services Committee Chairman French Hill and House Agriculture Committee Chairman G.T. Thompson, the bill passed the U.S. House of Representatives on July 17, 2025, with a bipartisan vote of 294 to 134. The Senate Banking Committee, chaired by Tim Scott, advanced the bill 15-9 on May 14, 2026, with Republicans joined by Democrats Ruben Gallego and Angela Alsobrooks.
The bill was officially placed on the Senate Legislative Calendar on June 1, 2026, but as of late July 2026, a Senate floor vote remains in doubt after an ethics-provision impasse, with several Democrats formally opposing the bill. Analysts see the Senate’s pre-August-recess window as the last realistic opportunity for passage this year.
The bill covers a wide range of market participants, including centralized crypto exchanges, brokers, dealers, and certain decentralized finance (DeFi) protocols. It also introduces new rules for consumer protection, anti-money laundering (AML) compliance, and tax reporting.
Bitcoin, Ethereum, XRP, and Dogecoin price analysis on daily timeframe
Bitcoin surged past its 34-day high on Tuesday, gaining 1.99% and triggering a fresh pullback. It now looks poised to surpass its previous high of $67,320. Bitcoin is currently approaching its 100-day EMA, and if the price manages to hold above this key moving average, it could confirm bullish momentum going forward.
Ethereum has broken past its previous swing high but continues to struggle below its 100-day EMA. If the ETH price manages to close above this level, buyer confidence could strengthen, potentially driving the trend higher.
Dogecoin has formed a descending triangle pattern on the daily timeframe and appears to be nearing a breakout. A successful move above the pattern’s resistance could flip the broader trend bullish.
XRP is forming an inverse head-and-shoulders pattern on the daily chart and has just triggered a breakout above the neckline. This development could draw in buyers, setting the stage for renewed bullish momentum in Ripple. RSI has kept rising by defending its previous swing lows which is also a bullish sign.
Bitcoin’s biggest test?
“Prominent cryptocurrency analyst and trader Ali Martinez has flagged Bitcoin’s repeated rejections at the short-term holder realized price since November, describing it as the apex cryptocurrency’s biggest test yet.”
“The total balance held by this cohort has returned to its pre-February-drop level of 3.09 million BTC, even though the price is significantly lower now,” the research firm noted. “This is a typical institutional trading pattern.”
Bitcoin’s biggest test isn’t here yet.
- Since November, every BTC rebound has been rejected at the short-term holder realized price. With $BTC back near $66,000, all eyes turn to $69,340.
- If history repeats, this is where the bulls will have to prove themselves.
On-chain analytics firm CryptoQuant reported that wallets holding between 1,000 and 10,000 BTC have accelerated their buying at the fastest pace in months.
“The total balance of this cohort has returned to the same level as before the February drop, 3.09 million Bitcoin, even with the price much lower now,” the research firm said. “This is the type of institutional trading pattern we’re seeing.”
Whales swallow Bitcoin during price drops.
- “Even as Bitcoin trades nearly 50% below its all-time high, wallets holding between 1,000 and 10,000 BTC have ramped up their buying at the fastest pace seen in months.”
- This huge buying can create strong buying pressure, which could lead to a bullish momentum.
Final Thoughts
Bitcoin’s move past its 34-day high, alongside gains in Ethereum, XRP, and Dogecoin, reflects growing optimism around the CLARITY Act’s regulatory progress in the US. However, price action alone doesn’t confirm a trend reversal. Bitcoin’s real test lies at the short-term holder realized price near $69,340, a level that has rejected every rally attempt since November. A decisive close above this zone, backed by sustained volume, would be needed to validate genuine bullish momentum rather than another short-lived bounce.
On-chain data adds a layer of nuance here. Wallets holding between 1,000 and 10,000 BTC have been accumulating at their fastest pace in months, with this cohort’s holdings returning to pre-February-drop levels even as Bitcoin trades well below its all-time high. This kind of steady accumulation during a price dip is typically associated with institutional positioning rather than retail-driven speculation, and it suggests some large holders are treating current levels as attractive entry points.
That said, regulatory catalysts like the CLARITY Act remain uncertain, the bill’s Senate passage is still pending amid an ethics-provision standoff, and its outcome could swing sentiment sharply in either direction. Traders should watch the $69,340 resistance zone closely, alongside Ethereum’s ability to close above its 100-day EMA and XRP’s follow-through on its inverse head-and-shoulders breakout, for confirmation of a broader trend shift.
As always, crypto markets remain highly volatile, and price movements can reverse quickly based on regulatory, macro, or on-chain developments. This article is for informational purposes only and should not be considered financial advice. Investors are advised to do their own research (DYOR) before making any investment decisions.
What is Bitcoin’s “biggest test” level right now?
Analysts have flagged the Short-Term Holder Realized Price, currently near $69,340, as Bitcoin’s key resistance zone. Since November, every BTC rally attempt has been rejected at this level.
Are whales buying Bitcoin during the current price dip?
Yes. On-chain data from CryptoQuant shows wallets holding between 1,000 and 10,000 BTC have been accumulating at their fastest pace in months.