Regulation· ★★★★· neutral·

Analysts: bitcoin rises without CLARITY Act, key factors are the Fed rate and ETF flows

  • —Bitcoin rose from $57,950 in July to more than $80,000, while the odds of the CLARITY Act passing fell from 39% to 18%
  • —Glassnode: outflows from U.S. spot bitcoin ETFs totaled $334 million on September 8-14
  • —The Fed raised rates by 0.25 percentage points to 3.75-4.00% on September 16
  • —Bitwise CIO Matt Hougan canceled his forecast of a prolonged crypto winter due to the bill's failure
Why it matters: Bitcoin's institutional infrastructure is already in place, so further growth depends on the Fed rate and ETF inflows rather than legislation.
#BTC
Source: Bloomingbit
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