TMAD Crypto: Clarity Act Deadline on July 4th
$BTC $ETH $IREN $HUT $WUL $KEEL $MSTR
Hi everyone,
Happy 4th of July to all our American and non-American subsribers who enjoyed longer weekend. Let’s talk about crypto today.
Bitcoin dropped from a weekly high near $62,900 to around $57,700. The Fear & Greed Index sits at 24 (Extreme Fear). Spot Bitcoin ETFs recorded a sixth straight week of outflows totaling $5.94 billion.
Macro & Key Levels
A broader Nasdaq drop of 2.2% on June 24 triggered $706 million in crypto liquidations (84% longs). On June 29, the Supreme Court ruled in Trump v. Cook, keeping Fed Governor Lisa Cook in place and removing any near-term path to a dovish board, reinforcing the hawkish June FOMC outlook.
Bitcoin is testing its 200-week moving average near $62,457.
Strategy Ends “Never-Sell” Era
Strategy announced a new Digital Credit Capital Framework on June 29, allowing up to $1.25 billion in Bitcoin sales to build cash reserves. It also authorized $1 billion in share buybacks and raised the STRC dividend to 12%.
The company bought no Bitcoin last week — its first pause in years. MSTR shares rose ~13%. Reactions were mixed: some see it removing an overhang, others view it as a break from Saylor’s philosophy. It introduces potential new Bitcoin sell pressure from Strategy’s balance sheet.
Regulatory: CLARITY Act
July 4, today, is Trump’s self-imposed deadline for the CLARITY Act. The bill can still reach the Senate floor but needs 60 votes and reconciliation. Galaxy Research puts 2026 passage odds at roughly 50-50.
Ethereum On-Chain
Ethereum’s staking ratio hit 31% (~37.3 million ETH staked), up from ~29% in early 2025. This locks up supply and reduces liquid selling pressure. However, recent validator growth is concentrated among large entities and ETFs rather than retail, and net staking flows have turned negative at times. ETH has lagged Bitcoin in the selloff.
Crypto Related Names
Let’s look at charts with levels and options flow on $BTC $ETH HUT 0.00%↑ WULF 0.00%↑ KEEL 0.00%↑ MSTR 0.00%↑ now.
