Crypto Markets Stable as ARMA Advances, BTC Breakout Looms

The crypto market remains relatively stable after an eventful week, thanks in part to progress on the American Reserve Modernization Act (ARMA), which has advanced through the U.S. House Committee on Financial Services and is one step closer to a full House vote.

ARMA would establish a Strategic Bitcoin Reserve alongside a separate framework for federal digital-asset holdings, but the bill's timing is becoming increasingly important as prediction markets price a 90% chance of Democrats taking control of the House in the midterms.

Crypto implied vols have eased from highs seen one to two weeks ago, but front-end vols remain elevated, pointing to continued expectations of near-term volatility. The upcoming quarterly expiry, which accounts for around 43% of BTC options open interest, is concentrated at strikes between 85k and 100k.

BTC has closed the week above its 50-week moving average and is up 29% over the past 35 days. A break of the 83k resistance level could lead to a move toward 90k and beyond, potentially bringing these Call Condor strikes into play.