Bitcoin Price Slips Below $77K Ahead of Fed, CLARITY Act Vote

Bitcoin remained under pressure Tuesday as uncertainty surrounding the U.S. CLARITY Act and an approaching Federal Reserve interest rate decision weighed on the cryptocurrency market.

Bitcoin price fell 2.77% over 24 hours to $76,279.53, while the broader crypto market declined 2.16% to a total valuation of $2.61 trillion. Ethereum traded near $2,420, while XRP hovered around $1.39.

Political uncertainty intensified after Republican lawmakers rejected a Democratic counteroffer on the Digital Asset Market CLARITY Act ahead of Tuesday’s crucial Senate procedural vote. Democrats had sought additional provisions covering government officials’ crypto holdings, state regulatory authority, illicit finance enforcement and stablecoin rewards.

The vote requires 60 senators to advance debate and does not represent final passage of the legislation. Failure to secure enough support could prolong uncertainty over U.S. crypto market structure regulation and force lawmakers into further negotiations.

Bitcoin’s immediate technical support sits near $75,600, Tuesday’s intraday low. A decisive move below that level could expose $74,000 and potentially the broader $72,000 support zone. Resistance is positioned around $77,000, followed by $79,500 and the psychologically important $80,000 level.

Macro risks are also keeping traders cautious. The Federal Reserve concludes its two-day meeting Wednesday, with markets largely expecting a 25-basis-point rate hike that could lift the target range to 3.75%-4.00%. Investors will closely monitor Fed Chair Kevin Warsh’s comments and updated economic projections for signals about further tightening. Morgan Stanley expects another rate increase in December.

Despite Bitcoin’s weakness, U.S. spot Bitcoin ETFs returned to positive flows. The funds recorded $160.04 million in net inflows on September 14 after four consecutive outflow sessions.

BlackRock’s IBIT attracted $134.35 million, while Fidelity’s FBTC received $53.33 million. ARK 21Shares’ ARKB recorded $41.95 million in withdrawals.

Combined spot Bitcoin ETF net assets stood at $100.09 billion, with cumulative inflows reaching $55.31 billion. While renewed institutional demand provides support, Bitcoin’s next major move may depend heavily on the Fed decision and progress in Washington over crypto regulation.