Bitcoin Falls Over 3% as Senate Vote on the Clarity Act Approaches

Bitcoin dropped 3.07% to $76,014, wiping out the gains from its post‑golden‑cross rally in a single session. The decline came amid heightened market focus on two major events: a Senate vote on the Clarity Act scheduled for this afternoon and the Federal Reserve’s pending decision on a possible rate hike.

Market Reaction to Legislative Uncertainty

The Senate’s upcoming vote on the Clarity Act, a piece of legislation that could affect the regulatory environment for digital assets, has added a layer of uncertainty for investors. Traders are closely watching the outcome, as a clear stance could influence market sentiment and future price movements.

Fed Rate Decision Adds Pressure

In parallel, the Federal Reserve is expected to announce whether it will raise interest rates. A rate hike typically strengthens the U.S. dollar and can weigh on risk‑on assets like Bitcoin, contributing to the recent sell‑off.

Broader Crypto Price Landscape

Other major cryptocurrencies also posted declines:

• Ethereum fell 3.64% to $2,411.63.
• BNB slipped 0.55% to $716.99.
• Solana dropped 2.51% to $99.02.
• Ripple (XRP) was down 0.55% at $1.39.

Stablecoins such as USDC and USDT remained near parity with the dollar, showing minimal movement.

Key Takeaways

Investors should monitor the Senate vote outcome and the Fed’s rate decision for further clues on market direction. The current pullback may set the stage for a new trend depending on how these macro‑policy events unfold.