Bitcoin faces Fed decision and CLARITY Act vote this week
- —The market puts the probability of a 25 bps Fed rate hike at 85-90%
- —BTC fell from $82,400 to below $78,000 amid tightening expectations
- —The Senate votes on the CLARITY Act on Tuesday, with 60 votes needed
- —The CLARITY Act would divide SEC and CFTC authority and clarify rules for DeFi
Why it matters: The Fed decision and progress on the CLARITY Act will set the direction for bitcoin and the broader digital asset market this week.
Source: Comparic