Bitcoin gained nearly 2% over the past 24 hours to $68,220, recovering from a recent selloff that drove prices to $60,000. The Fear and Greed index remains at 'extreme fear' for the 20th consecutive day. Bitwise’s André Dragosch expects sideways-to-down consolidation but points to optimism from prediction markets assigning nearly 80% odds to the U.S. Clarity Act passing in 2026, potentially benefiting altcoins like ETH and SOL. Bitcoin is seen as undervalued compared to global money supply, gold, and ETP flows, which remain weak. Large BTC holders have moved coins onto Binance at record levels, raising supply concerns. U.S. recession odds have dropped to just over 20%, but traders anticipate potential volatility with today's core PCE inflation release, which could influence Federal Reserve policy and impact risk assets.