Bitcoin (BTC) is holding steady around $95,000, but the broader crypto market is showing signs of fatigue. Traders are taking a cautious stance after the Senate decided to push back debate on a crypto market structure bill that many hoped would bring regulatory clarity to the space.

Here's where major cryptocurrencies stood:

Market Carnage:

• According to Coinglass data, 93,705 traders were liquidated in the past 24 hours, totaling $181.70 million in losses.
• Despite the volatility, top gainers over the same period included Story, Dash, and Sky.

What Analysts Are Watching:

Crypto chart analyst Ali Martinez pointed out that Bitcoin appears to be in a bullish retest phase, consolidating just beneath the psychologically important $100,000 level. The key, he said, is holding above $94,555. That level is critical for preserving the bullish structure and keeping the door open for a potential push into six-figure territory.

Crypto Tony offered a more immediate take: bulls need to reclaim $95,100 to regain near-term momentum after bears dominated the latest trading session. If they can't recover that level, downside pressure remains in play.

Meanwhile, Michael van de Poppe described the current price action as a healthy retest. He added that gold could roll over in the coming week, and if that happens, it might actually be good news for Bitcoin. Riskier commodities are already showing weakness, and gold typically follows with a lag. If that pattern holds, van de Poppe suggested, capital could rotate back into crypto as investors look for the next opportunity.

The Bigger Picture:

The regulatory backdrop matters here. Reports suggest the crypto market structure bill could still pass if key players including Coinbase, major banks, and Senate Democrats can reach a compromise. But for now, the delay is keeping traders on edge.

Adding to the uncertainty, Bank of America's CEO recently warned that as much as $6 trillion could flee traditional banking into stablecoins, a prospect that has banks understandably nervous. On a more innovative note, a Texas-based homebuilder just received SEC approval to launch a "universal payments" token that would let renters earn crypto by paying rent.

For now, Bitcoin is doing what it does best: hovering near a major psychological level while everyone debates what happens next. Whether it breaks through $100,000 or pulls back depends on whether buyers can defend that $94,555 support level and whether the regulatory fog starts to clear.