Bitcoin Stumbles Amid Regulatory Uncertainty

Bitcoin faced downward pressure the last 48 hours as investors digested fresh economic data showing rising June consumer prices, compounding existing market jitters around cryptocurrency regulation. The selloff coincided with heightened regulatory scrutiny in Washington, where lawmakers are actively debating multiple crypto bills that could reshape the industry’s future. Meanwhile, in a significant development for institutional crypto access, Grayscale quietly took steps toward going public in U.S. markets through a confidential SEC filing—a potential game-changer for digital asset investment vehicles.

Grayscale just filed with the SEC to go public in the United States via a IPO pic.twitter.com/yqfbPdRx4e

— Grit Capital (@Grit_Capital) July 14, 2025

The current legislative push in Congress has put crypto regulation at a critical inflection point, with industry leaders like Coinbase’s Chief Legal Officer Paul Grewal closely analyzing the potential impact of proposed bills. As Bitcoin’s price action reflects these macroeconomic and regulatory headwinds, the market appears to be in a holding pattern, waiting for clearer signals from both economic indicators and policymakers. This confluence of factors—from inflation data to Grayscale’s strategic move and ongoing regulatory debates—creates a complex landscape for crypto investors navigating short-term volatility while assessing long-term implications for the digital asset ecosystem.

Key Bitcoin Levels To Watch – July 16

Bitcoin’s recently overcame persistent resistance at $109,694 after multiple failed attempts in May and June, ultimately breaking out to establish a new all-time high at $123,278. The daily chart shows a bullish rising wedge formation, with price currently pulling back from the pattern’s upper boundary. While this resistance test created a swing high, the structure remains intact with Smoothed Heikin Ashi candles maintaining their green hue, confirming underlying bullish strength.

The RSI’s (Relative Strength Index) overbought reading triggered this temporary retracement, but with no structural breakdown, the uptrend appears poised to continue toward $130,000-$150,000 psychological targets. The combination of price action and technical indicators presents a coherent bullish narrative—the successful resistance breakout and rising wedge formation demonstrate strong buying pressure, while Heikin Ashi’s persistent green candles suggest sustained momentum. Though the overbought RSI warranted a healthy pullback, the absence of trend reversal signals keeps the focus on higher targets.

Bitcoin Key Levels

Resistance Levels: $130000, $140000, $150000
Support Levels: $100173,$92753, $76761

BTC Metrics

Total Market Capitalisation: $3.74T
BTC Market Capitalisation: $2.35T
Bitcoin Volume: $83.8B
Market Rank: #1

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