Meanwhile, as Bitcoin's price pushes toward new monthly highs—most buying occurred during the Asian session—US Senator Tom Tillis announced the imminent release of a draft agreement intended to resolve the conflict between the banking sector and the crypto industry.

According to him, the document addressing yield on stablecoins will be presented this week. The initiative is part of broader efforts to regulate crypto assets under the CLARITY bill, which aims to create a more predictable and secure environment for all market participants.

The main sticking point in current debates is whether stablecoins should accrue interest. Representatives of traditional banks strongly oppose this practice, fearing it could undermine the banking system and create unfair competition. They argue that banks, as heavily regulated financial institutions, cannot compete with crypto projects offering such attractive yields.

By contrast, the crypto industry views yield on stablecoins as a fundamental element that allows it to compete with traditional financial services. Proponents stress that attractive interest rates are what make stablecoins competitive with conventional savings accounts and deposits. They contend that capping yields would strip the crypto sector of a key tool for attracting users and capital, potentially slowing its development and innovation.

Tillis's proposed agreement is expected to seek a compromise acceptable to both sides. The details of the document will be decisive for the future regulation of stablecoins in the US and their role in the financial system. Success in resolving this dispute could set an important precedent for the further development of the crypto market in the country.

Trading recommendations

Bitcoin

Buyers are currently targeting a return to $74,600, which would open a direct path to $76,600 and then $78,400. The farther target is the high near $80,100; a break above that would signal attempts to return to a bull market. On a pullback, I expect buyers to step in at $73,000. A drop back below that area could quickly push BTC toward $71,400, with a further target around $69,800.

Ethereum

A clear close above $2,368 would open a direct path to $2,466. The farther target is the high near $2,585; a break above that would strengthen bullish sentiment and revive buyer interest. On the downside, I expect buyers to step in at $2,296. A return below that area could quickly push ETH toward $2,222, with a further target around $2,162.

What's on the chart

• The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.