HUGE! SENATOR LUMMIS SAYS CLARITY ACT WILL HAPPEN IN JULY! BITCOIN DUMPS BELOW $60K!
June 25, 2026
AI Summary
5 min readBitcoin Drops Below $60K as Senator Lummis Pushes Clarity Act Forward in July
Bitcoin briefly touched $58,000, dipping below the psychologically important $60,000 level, while Senator Cynthia Lummis confirmed that the Clarity Act text will be released over the July 4th recess and the bill will move in July. The episode covers both the ongoing market volatility and the legislative progress that could reshape crypto regulation in the United States.
Bitcoin's Price Action and What the Data Says
Bitcoin's drop to $58,000 continues the volatile pattern that has characterized recent weeks. Tony Edward, the host, emphasizes that while the move is painful to watch, several data points suggest the bottom may be close — though he cautions that further downside to $50,000 remains possible.
The key technical signal he highlights is a bullish divergence forming on the weekly Bitcoin chart, which has historically marked the bottoms of bear markets. Complementing this, USDT dominance — a measure of stablecoin liquidity — is forming a bearish divergence, which would typically signal that capital is preparing to flow back into crypto. "The perfect scenario or setup here," Edward says, "you're seeing the respective signals."
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What you'll learn
- 1 (00:57) **Bitcoin Dumps Below $60K – Market Volatility Continues** – Bitcoin touched $58K; host warns of potential further downside to $50K while noting a bullish divergence forming on the weekly chart and USDT dominance showing bearish divergence as signals the bottom may be close.
- 2 (05:25) **Charles Schwab Officially Rolls Out Bitcoin Trading** – Charles Schwab launched Bitcoin trading services, seen as a sign institutions may accumulate during extreme fear and low prices.
- 3 (05:52) **Senator Lummis Confirms Clarity Act Progress – Moving in July** – Senator Lummis stated in an interview that the bill text will be released over July 4th, with a move to pass in July; host notes the House has scheduled a hearing on July 17th in anticipation of Senate passage.
- 4 (08:39) **Lummis Responds to Jamie Dimon’s Criticism of the Clarity Act** – Senator Lummis advised Jamie Dimon to read the bill over July 4th, claiming his concerns have been addressed, especially via Section 301 and 16 provisions against illicit finance.
- 5 (09:45) **House Chairman French Hill Says Clarity Act Has Bipartisan Support** – Rep. French Hill told Fox News the legislation has bipartisan backing in the House, reinforcing host’s view that House passage will be smooth.
- 6 (10:14) **Japan Launches Two-Tier Stablecoin System** – SBI lists RLUSD (Ripple’s stablecoin on XRP Ledger and Ethereum) for retail dollar settlements, while SBI Holdings’ JPY SC handles unlimited yen-denominated corporate settlements; both launched today.
- 7 Standout Quotes
+ Full timestamped outline available in the app
Guests on this episode
Show Notes
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⏰ Time Stamps ⏰
00:00 Intro
00:23 Bitcoin analysis
04:31 Charles Schwab Bitcoin Trading
04:55 Senator Lummis Clarity Act
08:28 SBI RLUSD Yen Stablecoin
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#ClarityAct #Bitcoin #Crypto #CryptoNews #Cryptocurrency #BTC #BitcoinNews #ETF #News #Ripple #XRP #XRPNews #RippleXRP #Ethereum #EthereumNews #ETH #Solana #money #investing #trading #Altcoin #Altcoins #NFTs #Metaverse #Podcast #ThinkingCrypto =================================================
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