The crypto market at a crossroads: regulatory breakthrough in the US and the Strategy approach
The past night on the crypto market was relatively calm, but the fundamental backdrop continues to heat up. While traders watched price consolidation, events were unfolding in the U.S. that could radically change the rules of the game for the entire industry. I have carefully analyzed the situation, and here is my picture of what is happening.
Market: Cautious Stabilization
Bitcoin (BTC) was trading around $63,794 as of 08:45 Moscow time. Overnight, quotes traveled between support at $63,200 and resistance at $64,450, indicating a struggle between bulls and bears for momentum. Ether (ETH) also showed similar dynamics: after a dip to $1,853, the price recovered to $1,890, suggesting the medium-term uptrend remains intact.
In the top 10 by market capitalization, Dogecoin (+2.91%) and BNB (+2.19%) stood out, while Hyperliquid (HYPE) corrected by 1.47%. Among the top 100 assets, Canton (CC) led the gains with a 5.52% increase, while Audiera (BEAT) was the laggard, losing 10.7%.
Flows into spot ETFs show mixed signals: Bitcoin funds attracted $4.89 million, Solana — $1.43 million, while Ethereum products lost $1.76 million. Over the past day, exchanges liquidated positions of 76,376 traders totaling $175.22 million. The largest liquidation order was for the BTCUSDT pair on Binance, amounting to $2.46 million.
Regulatory Tectonics: OCC and SEC Reshape the Landscape
The key event of the night was the statement by the head of the U.S. Office of the Comptroller of the Currency (OCC), Jonathan Gould. He made it clear that crypto companies must gain access to a national banking license. According to him, the agency has received 40 applications to create new banks, including trust banks, over the past 18 months and is processing them on an expedited basis — within 120 days. This is a signal: "America is open for business again," and I view this as a powerful catalyst for institutional adoption of digital assets.
In parallel, Strategy CEO Phong Le confirmed that the company will resume Bitcoin purchases before the end of the year. This is an important signal after recent sales of part of its reserves, which raised questions from the market. The numbers are impressive: since the start of the year, Strategy has acquired about 175,000 BTC and sold only roughly 7,000. A ratio of 25 to 1 in favor of purchases is not just hedging, but a strategic bet on the long-term growth of the leading cryptocurrency.
Finally, the SEC, according to my information, is ready to present an exemption for trading tokenized stocks as early as Friday. The regulator will hold an open meeting to consider a special regime for certain contracts with crypto assets. This could pave the way for 24/7 trading of tokenized securities on the blockchain, which would be a tectonic shift for traditional finance.
My conclusion: The market is at a point of bifurcation. On one hand, there is macroeconomic uncertainty; on the other, unprecedented regulatory support in the U.S. If the SEC indeed approves the exemption for tokenized stocks and the OCC begins issuing licenses to crypto banks, we could witness the start of a new era of institutional adoption. Investors should prepare for increased volatility, but the direction of movement is clear — upward.