Bitcoin Holds $80,000, Ethereum, XRP, Dogecoin Edge Higher As Clarity Act Boosts Institutional Optimism

Bitcoin hovers near $80,000 as improving regulatory momentum surrounding the Clarity Act helped strengthen institutional sentiment across crypto markets.

Bitcoin ETFs saw $131.3 million in net inflows on Thursday, while Ethereum ETFs reported $5.7 million in net outflows.    

Meme coin market capitalization is trading 1.1% lower at $38.6 billion over the past 24 hours.

Trader Commentary: 

Trader Jelle warned Bitcoin is beginning to show weakening momentum after facing rejection near the key 200-day EMA while forming a bearish divergence. Momentum appears to be slowing near major resistance and a broader pullback through the rest of May could develop unless bulls quickly reclaim strength

Crypto chart analyst Ali Martinez said Ethereum's lower channel boundary near $1,071 remains a strong long-term accumulation zone if ETH revisits that area.

TeddyCleps noted Solana continues consolidating above key Ichimoku Cloud support near the daily 21 EMA. The trader added that SOL still faces relatively limited resistance below $120. The broader structure remains constructive while cloud support holds.

Cryptoinsightuk said XRP's latest session remained constructive despite a softer close. He highlighted XRP posted its highest daily close since March alongside improvement in trading volume. Weekly RSI and MACD indicators are approaching bullish crossovers ahead of the weekly close

Trader Javon Marks said Dogecoin's cycle structure appears positioned for another major breakout phase. According to the analyst, DOGE may retest its prior all-time high near $0.739 and that target implies upside of more than 530%. The longer-term bullish projections extend above $1.25

Image: Shutterstock