Crypto sits out the macro rally as regulation takes center…

Bitcoin hovered near $73,000 and Ether traded just under $2,000 after both fell roughly 6% on the week — even as global equities hit all-time highs and oil posted its worst month since March 2020. A tentative 60-day extension of the US-Iran ceasefire pressured Brent crude below $93 a barrel but failed to spark a sustained crypto bid.

sFOX CEO Javier Martinez says the market had already priced in a ceasefire relief rally, and when Bitcoin failed to break higher, the trade unwound. Institutional investors are now looking past geopolitical headlines toward Washington — specifically US crypto market structure legislation like the CLARITY Act. "They're waiting on regulatory confirmation, not just macro improvement," Martinez said.

Technically, the picture is cautious.