Happy Monday!

Bitcoin has tumbled to $71,000 after Michael Saylor announced the first sale of BTC: what does that mean for BTC going forward?

The CLARITY Act will not pass if Donald Trump’s scandals keep continuing at the same rate Mike Novogratz says. Here’s what makes him so bearish.

Plus, Lawmakers don't stop positioning when markets are moving — they accelerate. Every trade they make is public record under the STOCK Act. Most investors never see them in time. Benzinga Edge surfaces every congressional disclosure the moment it's filed.

See What Congress Is Buying Right Now

TOP STORY

Bitcoin Dumps To $71,000 On Saylor Sale News: Watch This Key Support Level, Analysts Say

Bitcoin dumped to $71,000 and the $71,000-$73,000 zone is now the line in the sand — break it and the bullish breakout structure built since February collapses.

Traders Cred and DonAlt flagged the setup: Bitcoin rejected hard at $82,000-$83,000 monthly resistance and is now testing the exact support level they called critical for the next few months.

"If that fails, then I think any signs of relief are kind of gone," Cred said.

The deeper problem is relative performance.

Stocks, AI names, and global equities are posting major momentum while Bitcoin drifts sideways or lower, and Cred's blunt take is that Bitcoin may be one of the weakest ways to express long exposure right now unless it starts outperforming again.

SPECIAL OFFER

Congress Just Filed Dozens Of Trades While The Market Hit All-Time Highs

Lawmakers don't stop positioning when markets are moving — they accelerate. Every trade they make is public record under the STOCK Act. Most investors never see them in time. Benzinga Edge surfaces every congressional disclosure the moment it's filed.

QUICK N DIRTY

Bitcoin, Ethereum, XRP are suffering as oil is pumping on fresh uncertainty in the Middle East: here’s what else is moving markets today.

Ripple’s CEO says stablecoins will swell to $3T by 2031. But will that help XRP?

Binance is pushing for a new ‘super app’ that allows you to trade stocks, crypto, and everything else in one place. Here are all the details.

FINTECH FOCUS

Trump's Scandals Are Muddying CLARITY's Chances, Mike Novogratz Says — But Do Prediction Markets Agree?

Galaxy Digital founder Mike Novogratz slashed his odds on the CLARITY Act becoming law this year from 90% to 60%.

He's pointing directly at Trump's political baggage, specifically a $1.77 billion DOJ settlement fund and Treasury's $250 commemorative bill bearing the president's face, as the ammunition giving wavering Senate Democrats cover to walk away.

The bill needs seven Democratic crossover votes to clear a filibuster after passing the Senate Banking Committee 15-9 on May 14, and Novogratz is heading to Washington personally to lobby senators.

JPMorgan CEO Jamie Dimon piled on Friday, telling Fox Business that Coinbase CEO Brian Armstrong is "full of sh-t" and that banks "will not accept" the stablecoin interest provision.

Polymarket traders are pricing the same story…

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