Bitcoin Shrugs Off Fed Hike, Clarity Act Rejection — SkimNews
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- Bitcoin held near $75,000 after absorbing both a Fed rate hike and the Senate's 49-50 cloture vote failure on the Clarity Act, with Bitfinex's Jag Kooner noting few traders had positioned for the bill's passage
- Long futures liquidations totaling $571 million hit bullish crypto traders in the 24 hours after the Sept. 14 Senate vote, while Coinbase Global (COIN) and Circle Internet (CRCL) each slid roughly 10% before rebounding Friday
- Nexo Dispatch's Ilya Kalchev mapped resistance at $77,950, $79,300 and $80,000 — a break above $80,000 could open $81,400, while a fall below $75,000 would put the recovery in question
- The SEC issued a temporary conditional Innovation Exemption allowing eligible crypto platforms to trade tokenized U.S. stocks, a step Bull Market Blueprint's Luke Davis cited as evidence regulatory progress can continue without a statutory path
- Bitwise's Matt Hougan said the U.S. still has two and a half years of a pro-crypto regulatory regime and called any short-term Clarity-driven selloff "an opportunity," while Quantum Economics' Mati Greenspan argued bitcoin historically performs better under regulatory pressure than regulatory clarity
- Sigma Capital's Vineet Budki declined to call a bottom, preferring to wait a quarter before taking a directional view and citing elevated rates and a slowing U.S. housing market as risks
- The next major tests flagged by analysts are the September jobs report on Oct. 2 and the CPI release on Oct. 14, with sustained ETF inflows or renewed spot buying viewed as the clearest breakout signal
Why it matters: Because derivatives traders had largely priced in the Clarity Act's failure, the legislative defeat produced $571 million in long liquidations and ~10% drops in COIN and CRCL but spared bitcoin's broader recovery — and the SEC's tokenized-stock exemption redirects the regulatory path from Congress to agencies, giving the industry a workable rule-making route despite the legislative loss.
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