The global cryptocurrency market spent the week at the intersection of U.S. regulatory legislation, bitcoin’s search for direction and expectations of an altcoin rebound. In the U.S. Senate, a compromise on the stablecoin interest issue, the biggest sticking point for the CLARITY Act, revived expectations for legislation. Bitcoin has recently topped the $80,000 barrier, stoking talk of a bottom. Major altcoins such as Ethereum and XRP are also being tested for a rebound, while dogecoin posted an unusual strength against a weaker market.

• Crypto industry split over the CLARITY Act… Charles Hoskinson criticises Ripple CEO • Biggest CLARITY Act sticking point resolved… compromise reached on stablecoin interest • Expectations rise for the CLARITY Act… but an industry executive says “it doesn’t matter if it doesn’t pass”

The hottest issue in the crypto industry over the week was the CLARITY Act, a comprehensive U.S. regulatory bill for digital assets. The biggest point of contention, over whether interest payments should be allowed on stablecoin balances, was settled through a compromise as banks and the crypto industry faced off sharply. That opened the way for Senate review.

The core of the compromise allows stablecoin issuers, under certain conditions, to provide limited rewards to holders, while also including safeguards reflecting the banking sector’s concerns. Coinbase publicly backed the compromise and positioned itself as an ally for the bill’s passage. Circle shares surged immediately after the news, reflecting market expectations.

But internal rifts in the industry also surfaced. Cardano founder Charles Hoskinson publicly criticised the Ripple CEO’s moves regarding the CLARITY Act, triggering a war of nerves between camps. Skepticism about passage persists. Some industry executives drew a line, saying business would not be affected even if the CLARITY Act does not pass, and assessments continued that prospects for passage this year remain unclear as the outcome of Ohio’s Senate election emerged as a variable for the vote.

• Will bitcoin return to $100,000? “A price rebound comes before new positives” • Bitcoin dominance tops 60 percent… talk of an altcoin bottom emerges • The real reason bitcoin fell is not quantum computing… “risk aversion across high tech”

Bitcoin rose 11.87 percent in April, its best monthly return this year, but it has continued to search for direction in May. It posted a short-term rebound on the back of strong earnings from U.S. big tech companies, but breaking $100,000 remains a difficult milestone. As bitcoin dominance rose above 60 percent, talk of an altcoin bottom has also emerged, paradoxically.

A notable development this week was a case in which the quantum computing threat was cited as the reason for bitcoin’s decline and then dismissed. Experts analysed the drop as stemming from risk aversion across high tech, not quantum risk. Separately, Adam Back called the bitcoin treasury strategy “rational arbitrage” in a positive assessment, and news of an attempt to recover $700 million of bitcoin locked up for 16 years using GPU-based methods also drew attention.

• Adam Back backs bitcoin treasury firms: “rational arbitrage” • Can $700 million of bitcoin locked for 16 years be recovered? “Attempt using GPU tools” • May is a test for an altcoin rebound... five names including Ethereum and Near in focus • Can Ethereum reach $60,000 in 2030?... focus on the $1,300 to $2,000 “accumulation zone” • Three altcoins that could hit all-time highs in May 2026

Behind the rise in bitcoin dominance, the altcoin market is cautiously probing for a rebound. Ethereum’s $1,300 to $2,000 range has drawn attention as a long-term accumulation zone, and optimism citing a $60,000 target for 2030 has resurfaced. Bitmine bought an additional 65,000 ETH in a single day, lifting its total holdings to more than 5.07 million ETH and reaffirming institutions’ accumulation trend for Ethereum.

This week’s most eye-catching altcoin was dogecoin. It rose 11 percent despite a broadly weaker market, while whale transfers and holdings surged together, signalling improved supply and demand. But an issuance structure of as many as 5 billion coins a year was cited as a structural obstacle to long-term gains, as four new memecoins appeared to split market attention. Shiba Inu was also assessed as having limited year-end prospects, after an analysis said it would be difficult for it to become a “millionaire coin” within 2026.

Coinbase and Glassnode projected the end of June as the timing for a cryptocurrency rebound. An analysis that 8 trillion won moved from cryptocurrencies to semiconductor ETFs in April alone shows a change in short-term fund flows.

• XRP investor sentiment hits a 2-year high, but why is the price stuck? • “Something big is coming” BitMEX teases major XRP announcement… community expectations surge

Investor sentiment indicators around XRP hit their highest in 2 years, but a disconnect persisted as the price failed to meet expectations. The market has been raising expectations for a rebound, as analysis said a pattern similar to signals before a surge in July 2025 is being repeated.

Ripple said it burned $120 million worth of its stablecoin RLUSD this week. It is being interpreted as part of a strategy to enhance value by reducing supply, and assessed as also reflecting an intent to boost RLUSD’s market credibility. BitMEX teased a major announcement related to XRP, inflating community expectations, but specific details were not disclosed, and attention is expected to continue into next week.

• Elon Musk: “Most cryptocurrencies are a scam” — court remark sparks controversy

The biggest issue to shake the market again came from Elon Musk. Elon Musk said in court testimony that “most cryptocurrencies are a scam,” causing reverberations. The shock was amplified because the remark came from someone who has wielded strong influence over the crypto market as a dogecoin supporter. Some also interpreted the comment as possibly intentional emphasis given the nature of courtroom disputes, but it clearly stoked anxiety among retail investors. It was an ironic contrast that dogecoin posted market-defying strength this week.