Quick overview

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Bitcoin (BTC) started the week largely unchanged, trading around $81,500 after briefly touching $82,000 over the weekend — its highest level since March.

Meanwhile, Ethereum (ETH) edged slightly lower to $2,330. Despite a modest slowdown in recent gains, the crypto market is showing resilience in the face of global geopolitical uncertainty, while also building anticipation around progress on the so-called Clarity Act.

Bitcoin continues to hold above $81,000 despite renewed pressure on global risk assets, driven by rising oil prices and inflation concerns. ETF inflows and sustained institutional positioning are helping stabilize BTC, even as crude oil trades near the $92–$100 range due to supply risks stemming from the Middle East.

The market is now watching whether Bitcoin can extend its momentum toward the $85,000 level, provided macroeconomic conditions remain stable.

Ethereum, meanwhile, continues to underperform Bitcoin on a relative basis. The key level for ETH remains above $2,400, which would signal a stronger return of risk appetite among major digital assets.

The broader altcoin market is showing mixed performance: Solana and BNB are posting daily gains, while Tron and XRP are lagging. In XRP’s case, however, it has regained the fourth position by market capitalization, overtaking Binance Coin (BNB).

Clarity Act: Senate hearing set for May 14

The U.S. Senate Banking Committee confirmed it will review crypto market structure legislation — known as the Clarity Act — on May 14. The bill aims primarily to establish a regulatory framework for stablecoins and to define when a digital token qualifies as a security, a commodity, or another category, while clarifying the jurisdiction of the SEC and the CFTC over the sector.

Any bill approved by the Senate would still need to be reconciled with the House of Representatives’ version — the Digital Asset Market Clarity Act, passed in July with bipartisan support by a 294–134 vote — before potentially reaching Donald Trump’s desk.

Geopolitical tensions: Iran and Israel remain key sources of uncertainty

Beyond crypto markets, geopolitical tensions continue to add volatility. Although the U.S. and Iran have confirmed that the ceasefire remains in place, peace negotiations remain stalled. Donald Trump described Iran’s latest proposal as “completely unacceptable,” while Tehran accused Washington of making “unreasonable demands.”

Adding to the uncertainty, Israeli Prime Minister Benjamin Netanyahu stated on Sunday that the war “is not over” unless Iran withdraws its enriched uranium, warning that the use of force has not been ruled out to achieve that outcome.