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I have confidence that Congress will uh adopt the uh Clarity Act. So, are you happy with the way the Clarity Act is turning out? No. And that the president will be able to sign it. I mean, what are you going to do about it? It is. We'll fight it. If we lose, we lose and we'll live. Okay. But it will be fought. The CEO of JP Morgan Chase is mad. No, no one's going to bow down to this guy, okay? Or that company. And but he's the only one.
He is lashing out. He rips Coinbase CEO Brian Armstrong. escalates fight over the crypto bill. He said he's he's representing the whole ind. Well, and you know the crypto bill must be good, must be great. If Jamie Diamond is fighting this hard, I do believe that if the bill passes, the winter's over. You will see prices skyrocket. As a reminder, it passed out of the Senate Banking Committee about a week ago, 10 days ago. It now goes to a vote on the full Senate floor in the next two-ish weeks. The chair of the SEC on Fox Business just gave his updated thoughts on crypto. The Clarity Act will
share this with you. But as the Bitcoin price plunges lower, plunges back to the bottom of our upward channel. Altcoin Daily subscribers understood. We're ready for something like this. Let's talk what's next for Bitcoin. And here's the full clip from Fox Business this morning. Let's watch then react. So, are you happy with the way the Clarity Act is turning out? No. because it allows them to effectively pay interest on deposits, stable coins or something like that without the protection that they should have. And it doesn't do anything for MLBSA. It has almost no legal protections. So, no, it's the banks will
not accept it that way. They won't. And the ABA, the small banks, the credit unions, it's not just the big guys. I'm not worried about stable coin, but if it happened, I'm telling you, I would have nothing to do with it and it would eventually blow up on its own. Okay? But that's my personal thing. But I do understand the concern of all the other banks. So, well, the markup is coming. I mean, what are you going to do about it? It is. We'll fight it. If we lose, we lose and we'll live. Yeah. Okay. But it will be fought. This will not be No, no one's going to bow down to this guy, okay? Or that company. And but he's the only one. And he's spending hundreds
of millions of dollars in Washington in this thing. He said he's he's representing the whole Well, um, we're going to watch that one. Yeah. Now, this was this is a recent clip. This was at the 2026 Reagan National Economic Forum yesterday and today. Now that we are waiting a full Senate vote for the legislation, what comes next is the following. Negotiators from the Senate Banking Committee and the Agricultural Committees have to merge. They have to reconcile their versions into a single unified Senate text. This will get voted in the Senate most likely June or July 2026. That's the window. And then if passed in
the Senate and then reapproved in the House, it then goes to the president's desk to sign. And I know there's still negative sentiment in the crypto market. If we look at the Bitcoin fear and greed index, we're still in fear. People are unsure. They're afraid, but you are not bullish enough on how impactful the market structure bill will be if passed. I loved this clip on the David Lynn podcast on YouTube. I'll play you just a piece of John Austinino, who is a Coinbase guy, putting it into perspective how big this bill will actually be. What is it that people do not understand about it yet? I think it's a very wonky thing, but I think people underappreciate how big of a deal this is. We don't do new market
structure legislation willy-nilly in the US. It happens. It usually happens when there is a catastrophic disaster. It usually happens when you have a great financial crisis of some type of massive um uh explosion where you know moms and pops you v voters are dramatically affected. So market structure is usually a negative reactionary thing. the fact that you have this asset class which from an institutional perspective has really existed in modern form for seven or so years, right? It's existed for about 15 technically about I'd say 9 to 10 from a retail perspective and really seven years. The fact that a brand new asset class is getting market structural legislation not because of some massive blow up but because there's a
recognition of how impactful it's become in the US economy. We should all be incredibly grateful that we have the opportunity to live during this time and for those of us who work in the asset class, we should be very grateful. So I understand there's negative uh crypto sentiment. If you look at the broad indices, you look at Twitter or X sentiment, I don't see it. I just see an extraordinary achievement for this asset class. So JP Morgan Chase Jamie Diamond has a fight on his hands because even the SEC chair of the United States, well just listen. We are uh focused on providing clarity to the marketplace. This is a quickly evolving type of technology and there clearly is investor interest but it has huge benefits I think potentially
for the financial uh services industry and the markets as a whole because it'll make things the distributed ledger technology the blockchain makes uh transactions much more certain. you know, we have the prospect of maybe immediate uh clearance and settlement of transactions on chain. So, that's a little uh you know, in the weeds, but little things like that can do a lot to help uh the marketplace have more stability and confidence from for buying and selling securities. But with respect to various products, uh we are working and collaborating with our sister agency, the Commodity Futures Trading Commission. We've come out with an interpretative release that divides the world and gives clarity to the
marketplace as to what's a security, a tokenized security and then what is uh a digital commodity. And so we've we've taken that step and that's uh that's been a very important step. We're looking and have I have confidence that Congress will uh adopt the uh clarity act and that the president will be able to sign it and that'll give us a statutory basis upon which uh we can operate and then again allow the marketplace to uh innovate and do that here onshore as the president has basically uh you know challenged uh us to do is to we've chased a lot of these products offshore um to for people to try to innovate, but uh we need to do it in America under American law so that uh investors have the confidence uh and the protections of that.
So the next few months are massively important for crypto and the lines in the sand if you're trading. We have a huge volume profile around $67,200. If Bitcoin stays above 67,000, that's a huge sign of strength in the market. Of course, the further support would be the 200 week moving average at around $61,000. Of course, any dip in the short term to me is a buying opportunity for Bitcoin and ETH. And I understand the ETH price is down in the doldrums today, but let's not forget the fundamental value. The former head of digital assets at BlackRock explains on the rollup podcast, the narrative says ETH is losing, but the scoreboard says it's winning by a large margin. Look at the scoreboard. So in the prop properties
that matter most for institutional adoption, which is the future of Ethereum, Ethereum has the most trust, liquidity, and security. Objectively speaking, it has the license to win. But sometimes in life you have the license to win but you're not winning. In all the categories where that license converts into real economic activity, Ethereum isn't just winning, it's winning by a mar a large margin. 50 plus% of stable coin value globally settled on Ethereum. tokenized assets. You know, as soon as some of the next projects are tokenized that have been announced, it'll have 70% of all tokenized assets in the Ethereum ecosystem. And it frankly is the default for highv value DeFi transactions.
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