Capitol Hill is being framed as nearing a potentially "landmark" moment for U.S. crypto policy, with Bitcoin increasingly discussed through a national-security lens. Rep. Lance Gooden argued the digital yuan and China's reported Bitcoin accumulation aim to challenge the U.S.-led financial order, while U.S. officials described military testing and possible uses of proof-of-work. Separately, the CLARITY Act cleared the Senate Banking Committee 15-9, including provisions meant to shield non-custodial software developers from being treated as money transmitters.

Analysts said Bitcoin's failure to clear its 200-day moving average has started to resemble prior reversal setups, raising the risk of a deeper pullback. They highlighted $70,000 as a key on-chain support level, warning that a break could drag BTC back into the $60k zone and potentially to fresh bear-market lows. BTC also tested $78,000 during Thursday's Asian session after rising about 1.7% from $76,600, but that area was described as near-term resistance.

Bitcoin's market regime is currently consolidating in a constructive range as structural institutional adoption absorbs available circulating supply. Driven by consistent spot ETF inflows, progress on the U.S. CLARITY Act, and a stabilizing macro landscape following the U.S.-Iran ceasefire, Bitcoin ($77,954) is building a rock-solid floor for its next major continuation move.

Bitcoin rebounded from the $76,000 area and moved above $76,800, trading above $77,200 while holding the 100-hour simple moving average. The BTC/USD pair also broke a bearish trend line near $77,200, and further upside may depend on clearing resistance at $78,300 and then $79,000. If the move stalls below $79,000, support levels to watch include $77,200, $76,500, and $76,000, with deeper levels cited at $75,000 and $73,500.

SpaceX disclosed in an S-1 registration statement that it held 18,712 Bitcoin valued at $1.45 billion as of Dec. 31, 2025. The filing, submitted on June 12, also states the company bought BTC at an average price of $35,320 per coin, a total that exceeds prior outside estimates by more than 10,000 coins.

Italian financial investigators traced more than €1 million ($1.16 million) in allegedly undeclared crypto gains tied to Bitcoin Ordinals trading, after examining activity connected to a seized Ledger hardware wallet. The probe used wallet-clustering techniques and exchange KYC records to link pseudonymous on-chain flows to identified individuals, and to reconstruct a repeat trading pattern that cycled BTC proceeds back into further Ordinals activity.

Bitcoin's Coinbase Premium Index weakened, with the daily reading sliding to -0.087 on May 19, even as traders realized 14,600 BTC ($1.14 billion) in profits on May 4. Despite negative spot signals, BTC held above the $70,000–$75,000 area and continued trading over the 100-day EMA near $76,800, suggesting buyers are still defending key support.

Bitcoin traded around $77,000–$77,200 while U.S. spot sentiment weakened, highlighted by a Coinbase Premium reading of -$66.8. Total demand growth flipped below the neutral zero line in May after previously rising above 150,000 BTC, even as derivatives activity continued to drive positioning. Analysts say the recovery looks increasingly fragile unless organic spot accumulation and institutional inflows strengthen again.