Market Structure

Cathie Wood says Bitcoin's traditional four‑year cycle may be breaking down as institutional demand rises and volatility falls. She views this as a structural shift that could alter timing and allocation strategies for investors.

The Senate has scheduled a Jan. 15, 2026 markup for the long‑awaited CLARITY Act, according to people familiar with the process. The session advances a key step toward federal market‑structure rules for digital assets and could shape exchange and investor protections.

SEC Chair Paul Atkins said the commission may introduce an “innovation exemption” for crypto firms as early as January, while continuing work on a crypto market structure bill under the Trump administration.

Nasdaq's head of digital asset strategy, Matt Savarese, said the exchange is ready to answer the SEC's questions and push quickly on its tokenized stock proposal. The statement signals Nasdaq intends to accelerate tokenized equity offerings pending regulatory clearance.

Senators unveiled a bipartisan draft bill that broadens the CFTC’s authority and tightens consumer protections, signaling stronger federal support for regulated crypto markets. Lawmakers say the move could improve market structure and boost liquidity on U.S. trading venues.

Bitcoin-focused ETFs recorded $866 million in outflows as the US shutdown ended, pushing BTC to a six-month low and stoking concerns about market structure and investor demand. Some analysts say the move is a temporary pullback and remain bullish on the long-term thesis.

Fidelity Digital Assets research head Chris Kuiper says visible buying from spot Bitcoin ETPs and corporates hasn’t produced decisive upside because other sellers are offsetting flows. He identifies clear pockets of supply that are keeping prices muted.

Around 300,000 BTC was sold in a move market observers attribute to institutional rebalancing rather than retail panic, underscoring the rising role of ETFs and OTC desks. The event points to a deeper, macro-driven liquidity profile for Bitcoin.

A well-known trader argues Bitcoin's recent price action formed a paradoxical bullish setup that, while looking weak on the surface, actually resets market structure and improves BTC's odds as the cycle's leading bull case.