Bitcoin tests $75,500 support as CLARITY Act vote approaches

Bitcoin (BTC) traded around $77,059, down 1.45% on the daily candle, after falling to $76,704 on Binance and briefly recovering. The move came as traders trimmed exposure ahead of a key U.S. Senate cloture vote on the Digital Asset Market Clarity Act.

Technical picture

The 4‑hour relative strength index (RSI) fell to 44.20, below the neutral 50 level, indicating reduced bullish momentum. BTC slipped beneath the middle line of its 4‑hour Bollinger Bands ($77,474) and hovered closer to the lower band at $76,359 than the upper band at $78,589.

Key short‑term support is identified between $75,500 and $76,000, with liquidation clusters concentrated near $76,000, $78,400 and $80,000. A break above $78,600, the upper Bollinger Band, could open a path toward $80,000 and the September highs near $82,000.

Impact of the CLARITY Act vote

The Senate’s upcoming cloture vote, which requires 60 votes to proceed, added uncertainty. Earlier optimism from a revised draft faded as doubts grew about reaching the required threshold. The legislation aims to clarify federal oversight of digital assets, and its delay could keep the U.S. crypto industry under the existing regulatory framework.

Broader market factors

Higher August inflation and rising oil prices have heightened expectations for tighter Federal Reserve policy. Potential interest‑rate hikes could increase the appeal of yield‑bearing assets, putting additional pressure on Bitcoin.

Support and resistance levels

• Daily Supertrend support: $72,786
• Short‑term defense: $76,359 (lower Bollinger Band) and $76,700 low
• Liquidity clusters: $76,000, $78,300‑$78,500, $80,000
• Key resistance: $78,300‑$78,600 (50‑week EMA area)
• Potential downside target if $75,500 is breached: $72,800

Analyst Ted Pillows noted that Bitcoin has moved back below its 50‑week exponential moving average (≈ $78,300). A weekly close beneath this level could accelerate the downtrend.