Bitcoin is trading around $105,000 on Tuesday morning, after the U.S. Senate released the long-awaited draft of the crypto market structure bill.
The proposal allows ETFs to stake digital assets and distribute rewards to investors.
Across the market, about $373.68 million in positions were liquidated. Spot Bitcoin ETFs recorded $1.15 million in inflows on Monday, while Ethereum ETFs saw no inflows.
Trader Comments: Crypto trader Jelle said Bitcoin continues to trade in a tight range between $100,000 and $110,000, adopting a "spot and chill" stance until a breakout or breakdown confirms direction.
Ted Pillows noted BTC faced rejection at the $107,000–$108,000 resistance zone, with the next key support around $104,000, coinciding with a CME gap.
He added that Bitcoin historically tends to bottom on Tuesdays, suggesting a potential gap fill before rebounding.
Michael van de Poppe says Ethereum remains in accumulation mode.
A breakout above $3,800–$3,900 could spark a move toward new all-time highs, though ETH still needs a 20–30% rise to reclaim pre–Oct. 10 levels.
Mikybull Crypto observed XRP forming a pattern similar to the one that preceded its last major rally.
Altcoin Sherpa said Solana looks solid on higher time frames and may be forming a local bottom, but warned its trajectory remains tied to Bitcoin's price action.
The meme coin market cap rose 1.4% to $58.7 billion, defying broader weakness.
Trader Tardigrade noted Dogecoin's weekly chart is entering its final stage before a potential explosive surge.
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