Quick overview

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Bitcoin started the first week of May on a positive note, briefly touching the $80,000 level before easing back to around $79,700, as investors reacted to renewed regulatory momentum in the United States.

Ethereum mirrored Bitcoin’s move, trading near $2,300, with broader crypto markets showing relatively muted activity across major altcoins.

Institutional Flows Keep Supporting Prices

The $80,000 level remains a key psychological threshold for Bitcoin, with traders closely watching whether sustained institutional inflows can support a breakout above it.

Exchange-traded fund (ETF) data continues to point to strong demand: $629.7 million in net inflows were recorded on Friday alone, marking the fifth consecutive week of positive flows. These inflows have helped absorb selling pressure and stabilize prices even during periods of broader risk aversion.

Market analysts argue that continued ETF momentum could be decisive in determining whether Bitcoin can maintain levels above this new price range.

Mixed Performance Across Altcoins

Altcoin performance remained subdued. Dogecoin led gains with a 1.2% rise, followed by BNB up 0.9%. On the downside, Monero fell 1.2%, reflecting a lack of clear directional momentum across the broader sector.

Macro Risks Still in Focus

Despite the upbeat tone, macroeconomic and geopolitical risks continue to weigh on sentiment. Escalating tensions in the Strait of Hormuz add a new layer of uncertainty, while upcoming U.S. labor market data is being closely watched after recent hawkish signals from the Federal Reserve.

Regulatory Breakthrough: The Clarity Act

A major driver of optimism has been progress on U.S. crypto regulation, particularly the advancement of the so-called Clarity Act, a market structure bill that had been stalled since earlier this year amid tensions between the crypto industry and the banking sector.

The bill would prohibit crypto firms from paying interest on stablecoin balances in a way comparable to traditional bank deposits, while still allowing reward programs tied to legitimate platform activity and transactions.

Under the proposed framework, the U.S. Department of the Treasury and the Commodity Futures Trading Commission would be responsible for drafting implementation rules within one year of enactment.

Coinbase Global, Inc., which played an active role in negotiations between the crypto industry and banking lobby groups, quickly endorsed the agreement, highlighting its potential to bring long-awaited regulatory clarity to the sector.