Bitcoin Holds Near $75,500 as Traders Anticipate Fed Rate Hike

Bitcoin traded in a narrow range around $75,500 after a sharp decline linked to the failed CLARITY Act vote in Congress. The cryptocurrency’s price movement reflects heightened market sensitivity ahead of the Federal Reserve’s upcoming interest‑rate decision.

Price Action After the CLARITY Act Vote

Within the last 24 hours, Bitcoin moved between $75,000 and $76,000. After briefly touching $77,000, the price fell to a low of $74,913 before rebounding above $76,000 and then stabilising just above $75,500. At the time of reporting, the price was around $75,700, representing a daily loss of under 1% and a seven‑day decline of nearly 4%.

Derivatives Liquidations

Leveraged positions on Bitcoin saw more than $140 million liquidated for the second day in a row, with long‑bet liquidations exceeding $110 million—over 10% higher than the previous day. Across the broader crypto market, $362 million in long positions and $113 million in short positions were liquidated.

Regulatory Outlook

Industry figures such as Michael Saylor and Joshua Riezman noted that the CLARITY Act’s failure shifts focus to agency‑based rulemaking by the SEC, CFTC and Treasury. Solowin Holdings highlighted its strategy of securing approvals in overseas jurisdictions, including stablecoin issuance approval from the Central Bank of Bahrain and participation in Hong Kong’s EnsembleTX pilot.

Fed Rate Expectations

Prediction markets anticipate a 25‑basis‑point rate hike by the Federal Reserve, based on recent jobs and inflation data. Analysts warned that a larger-than‑expected increase could add further pressure on Bitcoin’s price recovery.