Bitcoin fell 1.4% to $76,921 on Tuesday as traders awaited a Senate vote on the Clarity Act and a Federal Reserve meeting expected to raise interest rates by 25 basis points. Broader crypto prices also slipped as Treasury yields hit near two-decade highs and oil rose on the worsening Middle East conflict.
Bitcoin fell 1.4% to $76,921.0 by 05:22 ET on Tuesday, as investors awaited a U.S. Senate vote on a key cryptocurrency regulatory act while caution ahead of a Federal Reserve meeting also weighed on the market. The token had gained ground in the prior session after President Donald Trump reportedly agreed to a new ethics provision in the Clarity Act.
Broader crypto prices mostly fell on Tuesday, weighed by growing risk aversion as benchmark U.S. Treasury yields hit near two-decade highs, while oil prices rose further on a worsening conflict in the Middle East. Anticipation of the Fed meeting limited any major upside in crypto, with the central bank widely expected to raise interest rates by 25 basis points on Wednesday.
Senate to vote on Clarity Act Tuesday
The Senate is set to vote on the Clarity Act on Tuesday, and the bill requires at least 60 votes to clear Congress. Republican senators, chiefly Cynthia Lummis, have been racing to wrangle Democrat support for the legislation. Lummis claimed on Monday that Trump had agreed to a new ethics provision in the Clarity Act that aims to block insider trading by federal officials, a measure demanded by Senate Democrats.
Other disagreements over the Clarity Act center on its treatment of yield payments on stablecoins, and its proposed division of digital asset regulation between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The act still needs Democrat support to clear the Senate and move toward becoming law.
Altcoins mostly lower
World no. 2 crypto Ether fell 2% to $2,474.97. XRP slipped 0.4%. Solana, Cardano, and BNB fell between 1% and 3.5%. Memecoins Dogecoin and $TRUMP lost 2.2% and 1.4%, respectively.
Source: Investing.com
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