Overview
- The U.S. Senate advanced the Clarity Act to split digital-asset oversight between the SEC and CFTC, clearing a key step toward firmer rules.
- JPMorgan launched a pilot to accept Bitcoin and Ethereum as collateral for institutional loans targeting wealthy clients and hedge funds.
- Institutional activity picked up with BlackRock clients buying about $284 million of Bitcoin and Morgan Stanley adding 286.7 BTC to its holdings.
- Flows remain mixed as a separate $54.7 million Bitcoin sale by BlackRock clients followed a Middle East ceasefire that eased hedge demand.
- Market structure looks tight with heavy call positioning at $80,000 and negative gamma near $82,000, while recent $560 million in liquidations and a Kalshi downside scenario to $59,000 highlight ongoing volatility even as spot Bitcoin ETFs logged a five‑week inflow streak.