Happy Wednesday!

Bitcoin can’t get a move on, but it’s also not breaking down. Ignoring bad news is what the bottom of crypto winter looks like and is a good thing, according to Bitwise.

The CLARITY Act didn’t pass last week and that is quite ironic, says an ETF expert — it hands the SEC under the Trump administration the proverbial keys to the castle.

Plus, create your watchlist and let Benzinga edge do all the work for you by filtering earnings dates, analyst upgrades or downgrades, insider filings, and unusual options activity so your feed is specific to your portfolio. Filter The Noise →

Contest: It’s crypto Wednesday. Test your market smarts and and compete to win free Benzinga PRO and EDGE subscriptions. It only takes 30 seconds.

TOP STORY

Bitcoin 'Ignoring Bad News' Signals We're At The Bottom Of Crypto Winter, Bitwise Exec Says

Bitcoin keeps shrugging off bad news, and Bitwise CIO Matt Hougan says that may be the loudest bottom signal yet.

Strategy selling BTC, the CLARITY Act losing momentum, STRC weakness and even a Coldcard wallet hack have all failed to knock Bitcoin lower — a setup Hougan says often marks the end of a bear market.

His next catalyst is quieter but powerful: wealth platforms approving crypto ETFs and advisers moving clients toward 2% to 4% allocations, with products like the Bitwise Bitcoin ETF pulling in existing Bitcoin through regulated, tax-free in-kind transfers.

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MARKET MINUTES

XRP network activity jumped by an impressive 84% recently. Only that didn’t help XRP to actually pump. What will it take for that to happen?

Bitmine is closing to completing its 5% of all ETH supply challenge. So what happens to Tom Lee’s company after they completed this quest?

Hyperliquid is pushing the US for access to perpetual futures. How did the beta tickers PURR and THYP react to the news?

FINTECH FOCUS

CLARITY Act's Failure Is 'Ironic,' ETF Expert Says: 'Will Result in President Trump's SEC Doing Whatever They Want'

The collapse of the CLARITY Act may be bad news for crypto legislation, but ETF Store President Nate Geraci says it could be a gift to President Trump’s SEC.

Without Congress setting guardrails, Geraci argues regulators may have wide room to fast-track crypto under existing law — including a tailored crypto offering regime and a potential path for 24/7 tokenized stock trading on blockchains.

The catch: September may be the last real shot for the bill, and a Democratic midterm sweep could put crypto critics in charge of the committees that decide what comes next.

BENZINGA TRIVIA CHALLENGE

Earnings season is in full swing right now which means having a Benzinga PRO or EDGE subscription will help you stay ahead of the market.

This week’s contest continues to heat up just four points separating the winners at the moment. Will the leaders hold on? They will if they’ve been brushing up on their crypto. Put your digital asset knowledge to the test this week with our Crypto Wednesday trivia challenge.

Missed yesterday’s quiz? Catch up here. To maximize your chances of winning, take the quiz every day and keep climbing towards the top of the leaderboard.

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