Bitcoin Stalls on Profit-Taking, Eyes Next Narrative Catalyst
The recent confirmation of Kevin Warsh as Federal Reserve chair has led to some optimism among crypto investors, who hope that his appointment will usher in an era of accommodative monetary policy.
The CLARITY Act, which aims to provide regulatory clarity for the crypto industry, moved out of the Senate Banking Committee with a 15-9 vote and is now awaiting a full Senate vote.
However, despite these positive developments, Bitcoin's price stalled in the $82,000 to $83,000 range as traders took profits after the rally to $80,000 and 'sold the news' following the successful CLARITY Act markup.
Data from TRDR.io showed a surge in long liquidations on May 13 and May 15 as Bitcoin dropped below $79,000 on both occasions, but the BTC/USDT market structure and order books indicate that the $78,000 to $80,000 zone remains an area of buying interest.
The next major driver for Bitcoin's rally is expected to emerge from Form 13F filings, which will show institutional investment managers' Q1 2026 securities holdings and any changes to those positions. The update on the U.S. Strategic Bitcoin Reserve is also anticipated within weeks.