Bitcoin Slides as Trump Backs CLARITY, XLM Jumps DTCC

Key Moments

Trump Reasserts Pro-Crypto Stance as CLARITY Act Advances

Bitcoin (BTC) traded just under $74,000 at press time on Thursday, extending a three-day losing streak. The move comes as US President Donald Trump highlights his administration’s push to shape digital asset regulation through the proposed Digital Asset Market Clarity (CLARITY) Act.

In a social media post on Thursday, Trump described the United States as the “new crypto capital of the world” and claimed that entrepreneurs are returning under his leadership. He stated, “We will codify a FUTURE-PROOF Digital Asset Market Structure that cannot be undone by the Crypto Haters. The new Frontier of Finance is being built in America, and ‘TRUMP’ will NEVER let Crypto down.”

The remarks arrive as the CLARITY Act heads toward a full Senate floor vote, where it will need at least 60 votes to pass.

Broad Crypto Market Hit by $700 Million in Liquidations

The downturn in Bitcoin has coincided with a sharp spike in liquidations across the broader digital asset market. Over the past 24 hours, total crypto liquidations reached $700 million at press time, with $647 million of that total coming from long positions.

Such a skew toward long liquidations points to a predominantly bullish positioning that was forced to unwind as prices fell, indicating pronounced sell-side pressure while Bitcoin continues to lose momentum.

Bitcoin Technical Picture: Downside Risks Toward $70,000

From a technical standpoint, Bitcoin is maintaining a bearish near-term profile while trading below key moving averages. The price remains under the 50-day Exponential Moving Average (EMA) at approximately $76,548 and the 100-day EMA at around $76,933. The 200-day EMA, positioned higher near $82,766, continues to cap the broader structure.

Momentum indicators are aligned with this weaker tone. The Relative Strength Index (RSI) is hovering near 37, while the Moving Average Convergence Divergence (MACD) is in negative territory, both signaling sustained selling pressure even as BTC trades above a reclaimed trend-line support area.

On the downside, the first notable support level is the April 19 low at $73,762, followed by a rising trendline near $71,700. A decisive break below this band would leave Bitcoin vulnerable to deeper corrective losses.

On the upside, immediate resistance is located at the 50-day EMA near $76,548, with the 100-day EMA at $76,933 representing the next hurdle.

Stellar Extends Rally on DTCC Collaboration

While Bitcoin struggles, Stellar (XLM) is bucking the broader market trend. XLM rose 7% on Thursday, building on an 11% gain from the previous session. The move has lifted the token above the 100-day EMA at $0.1691.

The advance is being fueled by the recently announced partnership between the Depository Trust & Clearing Corporation (DTCC) and the Stellar Development Foundation, which aims to tokenize DTC‑custodied assets on the Stellar blockchain.

Technical indicators for XLM underscore the strength of the short-term upswing. The MACD histogram has flipped positive, with the MACD line crossing above its signal line. The RSI stands at 66, pointing to solid upside momentum and signaling that the pair is approaching overbought conditions, which could slow the pace of further gains as price approaches key resistance.

On the upside, the first major resistance level is the February 1 high at $0.1826, followed by the 200-day EMA at $0.2035.

On the downside, immediate support is aligned with the 100-day EMA near $0.1691, with additional support at the 50-day EMA around $0.1589. A deeper pullback into this zone would be expected to draw dip-buying interest as long as the wider uptrend structure remains intact.