Daily News 19

Tag: CLARITY Act

  • Analyst Predicts Bitcoin Could Surpass $90K by November on This Setup

    Analyst Predicts Bitcoin Could Surpass $90K by November on This Setup

    Bitcoin Analyst Predicts $90K by November Amid Bearish Sentiment

    Trader Matthew Hyland argues that Bitcoin is currently sitting at a daily cycle low with a bullish divergence forming on the charts, forecasting prices above $90,000 by early November. His call comes while BTC trades near $76,000, down sharply after the Senate failed to advance the CLARITY Act, and as the market’s most vocal participants remain predominantly bearish.

    Conflicting Technical Outlooks

    Posting on X, Hyland noted that bears were getting excited at what he considers a daily cycle low, with a bullish divergence setup forming underneath the price action.

    “See ya at $90k+ by early November,” he wrote.

    Swing trader Roman replied, “Yeah, part of me really thinks this was a low,” with Hyland acknowledging that the Relative Strength Index (RSI) could fall further, though he pointed to liquidity clustered around $75,000.

    “So far it was just a liquidity grab IMO,” he stated, adding that there was “not really much liquidity below” that level.

    Hyland added that current prices look solid to him, even though most bears still aren’t buying the bottom narrative and are hoping for a much deeper decline.

    That view contrasts sharply with more pessimistic calls on X. Analyst Ted Pillows highlighted that BTC has lost its 50-week Exponential Moving Average (EMA) and wrote:

    “a drop to $70K-$72K zone is highly likely before any reversal.”

    Fellow market watcher Crypto Patel has been tracking the bearish move since Bitcoin fell from $82,500 to roughly $74,900 following a rejection near an $83,000 bearish order block on the daily chart. He maintains a $50,000 target unless Bitcoin closes above $83,000 on a higher timeframe.

    On-Chain Data Points to Mid-Cycle Floor

    Taking a different approach, CryptoQuant contributor IT Tech focused on Bitcoin holdings rather than price structure. They observed that the 6- to 12-month supply band has climbed to 30.8% of realized cap, up from 16.2% in December last year—a pattern that aligned with the last three Bitcoin bottoms.

    The analyst characterized this as a bullish setup but stopped short of declaring it the cycle low outright, noting that the original cryptocurrency is still down nearly 40% from its peak.

    “this reads as mid-cycle floor building, not the cycle low.”

    CLARITY Act Failure Triggers Capitulation

    At the time of writing, BTC was trading near $76,000, down about 1.5% in 24 hours and nearly 5% over the past week, though still up close to 19% across the last 30 days.

    The decline follows Tuesday’s Senate vote, where cloture on the CLARITY Act failed to secure the 60 votes required to advance the legislation. As reported earlier by CryptoPotato, Bitcoin short-term holders sent more than 23,000 BTC to exchanges at a loss in the aftermath, totaling nearly $1.8 billion and marking the largest capitulation event in approximately a month.

  • Crypto Trading Volume Surges as September Tests August Demand Strength

    Crypto Trading Volume Surges as September Tests August Demand Strength

    Crypto Trading Volume Faces Durability Test After August Surge

    Cryptocurrency trading volume returned sharply in August, but September is testing whether that heightened activity can hold without another broad price rally. Spot and perpetual markets expanded as Bitcoin and major tokens gained roughly 25% during the broader rebound tracked by CryptoQuant. The latest pullback now creates a cleaner test of underlying demand, allowing traders to watch whether exchange activity stays elevated without a fresh price surge.

    Macro Events Add Pressure

    Bitcoin trades near one-month lows ahead of two major policy events clustered close together. A Senate procedural vote on the CLARITY Act and the Federal Reserve’s two-day policy meeting both began on September 15. Both events can affect risk appetite and short-term positioning, giving crypto trading volume a new stress test just weeks after August’s comeback.

    August Spot Volume Hits Multi-Month High

    Spot crypto trading volume reached about $75 billion on August 21, which CryptoQuant described as the second-highest daily spot total since February. Binance handled $19.4 billion of that total, while Coinbase recorded $8 billion and Gate processed $5.1 billion.

    CryptoQuant chart showing daily spot trading volume
    Source: CryptoQuant

    The composition differed from several earlier 2026 volume spikes. Those periods often appeared during sell-offs and heavy risk reduction. August activity rose during a broad crypto rally, giving the increase a stronger buying component. That difference now raises a fresh question about persistence.

    Spot Demand Outpaces Derivatives Growth

    CoinMarketCap data also show spot activity growing faster than derivatives during August. Eleven tracked exchanges processed $4.23 trillion across spot and derivatives, up 12.3% from July. Spot volume increased 17.7% month over month, while derivatives rose 11.5%.

    That shift matters because derivatives still dominate total exchange activity, accounting for 86.2% of tracked August volume. Spot represented 13.8%, up from 13.2% in July. A continued rise in spot share would show more activity moving through direct asset purchases and reduce dependence on leveraged turnover as the main source of exchange activity.

    Binance Leads as Participation Broadens

    Binance kept the largest share of exchange activity during August. CoinMarketCap placed its total market share at 43.3% across the tracked venues. CryptoQuant also showed Binance leading the August 21 spot surge.

    However, the rebound extended beyond one platform. CryptoQuant data showed rapid 30-day spot volume growth across Gate, Coinbase, OKX, Binance, and smaller exchanges. Gate recorded the fastest increase, while Coinbase and OKX also posted strong gains.

    Perpetual futures volume reached about $336 billion on August 21, the highest daily level since March. Binance handled $124 billion, while OKX recorded $46 billion and MEXC processed $30 billion. Short covering and liquidations contributed to that futures burst.

    September Pullback Tests August Comeback

    Bitcoin dropped toward $76,000 on September 15 and approached a one-month low. The token touched an intraday low near $75,560 before recovering part of the decline. The move came before the Senate’s CLARITY Act procedural vote, with the Federal Reserve also starting its two-day policy meeting the same day.

    That backdrop gives crypto trading volume a new test. August showed that exchange activity could rise with prices rather than during forced selling. September can show whether that participation survives weaker prices and higher macro uncertainty.

    If spot turnover stays elevated during the pullback, the August rebound would look broader than one event-driven session. If activity fades quickly, the $75 billion spike would stand out as a temporary burst. Exchange volume now offers a useful measure of whether recent demand can keep engaging through volatility across major centralized venues.

    Related: Ripple Lands Multi-Year Louisville Deal to Put XRP Branding on Court

  • FOMC Meeting Today: Fed Expected to Hike Rates 25 Bps – Will Bitcoin Drop Again?

    FOMC Meeting Today: Fed Expected to Hike Rates 25 Bps – Will Bitcoin Drop Again?

    Fed Expected to Raise Rates by 25 Basis Points

    Crypto markets are already under pressure ahead of today’s Federal Open Market Committee (FOMC) meeting, with Bitcoin trading below $75,000. The Fed is widely expected to raise rates by 25 basis points, a move that is largely priced in. Traders are now focused on Chair Kevin Warsh’s comments for clues on future rate hikes and whether another wave of selling could hit Bitcoin.

    The FOMC will announce its decision at 2:00 PM EDT, followed by Fed Chair Kevin Warsh’s press conference at 2:30 PM EDT. Markets are pricing in a 92.5% chance of a 25-basis-point hike, which would move the federal funds rate from 3.50%–3.75% to 3.75%–4.00%. This would be the Fed’s first rate hike in three years.

    🚨 REMINDER: 🇺🇸 FED INTEREST RATE DECISION TODAY AT 2:00 PM ET!
    Current: 3.50% – 3.75%
    Forecast: 3.75% – 4.00%
    HIKE → MARKETS DROP HARD
    HOLD → MARKETS RALLY
    CUT → MARKETS RALLY HARD
    PRESS CONFERENCE AT 2:30 PM ET!
    pic.twitter.com/Du0sWRoIBp
    — Crypto Rover (@cryptorover) September 16, 2026

    However, traders are already looking beyond today’s decision. They are watching Warsh’s comments for signals about future rate hikes. The markets have shifted from expecting two hikes to pricing in at least three by June 2027. Former Fed Vice Chair Richard Clarida warned that another hike could follow.

    “If we get a hike next week, certainly we’ll get additional ones. This is certainly not one and done.”

    CLARITY Act Failure Adds More Pressure

    The Fed’s decision comes as the crypto market deals with another setback. On September 15, the CLARITY Act failed to advance in the Senate, weakening a major regulatory catalyst for the market. Even after a last-minute substitute text included 126 bipartisan changes, lawmakers could not overcome major political and ideological differences. Prediction markets now put the bill’s 2026 passage odds at around 12%.

    Following the setback, the total crypto market fell more than 3%, while Bitcoin dropped below $75,000. The decline also triggered around $770 million in liquidations, adding more selling pressure from leveraged long positions.

    Bitcoin Could Face More Selling If Warsh Sounds Hawkish

    The biggest risk for crypto may not be the 25-basis-point increase itself, because traders have already priced it in. Instead, Bitcoin could face more selling if Warsh signals that more hikes are coming or the Fed’s updated projections point to tighter policy for longer. Such a signal could strengthen the dollar, lift bond yields, and push investors away from riskier assets. Bitcoin has already fallen below $76,000, now trading around $75,860.

  • Bitcoin Coinbase Premium Falls to One-Month Low: Key Drivers Behind the Drop

    Bitcoin Coinbase Premium Falls to One-Month Low: Key Drivers Behind the Drop

    Bitcoin Coinbase Premium Slumps to Four-Week Low as U.S. Demand Weakens

    Bitcoin’s Coinbase premium has dropped to its lowest level in four weeks, signaling fading U.S. buying pressure as traders digest a legislative setback for the crypto industry and brace for tighter monetary policy.

    Coinbase Premium Turns Negative

    The premium measures the price gap between Bitcoin’s dollar value on Coinbase and its USDT-denominated price on Binance. CryptoQuant’s Coinbase Premium Index tracks this spread as a percentage of price. Tuesday’s reading of approximately -0.07% translates to roughly $50 on a $75,900 Bitcoin — a narrow margin that nonetheless points to relatively weak demand on the U.S. exchange.

    The discount deepened from roughly -0.02% a day earlier after the Clarity Act failed to advance on Tuesday. The move marks a sharp reversal from late August and early September, when the premium flipped positive for the first time in months as Bitcoin rallied toward $80,000. Since then, Bitcoin has retreated to around $75,000.

    Legislative Setback Weighs on Sentiment

    The failure of the Clarity Act — a bill aimed at establishing clearer regulatory frameworks for digital assets — has removed a potential catalyst for institutional inflows. Market participants had viewed legislative progress as a key driver for sustained U.S. exchange premiums, which typically reflect stronger domestic appetite.

    Fed Policy Decision Looms

    Monetary policy presents an additional headwind. The Federal Reserve announces its rate decision later Wednesday, with markets widely pricing in a 25-basis-point increase that would lift the federal funds target range to 3.75%–4%. Higher rates tend to dampen risk appetite across speculative assets, including cryptocurrencies.

    Traders will closely monitor the accompanying policy statement and press conference for signals on the pace of future hikes, which could further influence Bitcoin’s near-term trajectory and exchange-specific pricing dynamics.

  • Crypto Longs Worth $570 Million Wiped Out as Clarity Act Fails

    Crypto Longs Worth $570 Million Wiped Out as Clarity Act Fails

    Crypto traders holding long, or bullish, futures positions suffered significant losses over the past 24 hours following the failure of the Clarity Act in a Senate procedural vote.

    Liquidation Data Reveals Heavy Long-Side Damage

    Exchanges liquidated approximately $571 million in long positions during this period, marking the highest total since August 22, according to data from CoinGlass. In contrast, short, or bearish, positions accounted for only about $100 million of the total wipeout.

    Bitcoin and Ether Lead Liquidation Tally

    Bitcoin and ether longs absorbed the heaviest damage, with roughly $190 million liquidated in each asset. XRP longs lost about $30 million, while Solana longs saw approximately $22 million in liquidations.

    Market Positioning Reflected Legislative Optimism

    The liquidation data indicates markets were positioned for continued upside, largely driven by hopes that the Clarity Act would advance. Analysts had previously flagged ether and DeFi tokens as the assets most likely to outperform bitcoin if the Senate voted in favor of the legislation.

    Trump Concession Reports Fueled Recent Rally

    Optimism strengthened earlier this week after reports that President Donald Trump was willing to make concessions on the bill’s ethics provisions. The market responded positively: bitcoin, the largest cryptocurrency by market value, rose to nearly $80,000 from about $77,000 on Monday.

  • XRP Sinks 10% as Clarity Act Fails, Bitcoin Slides Toward $76,000

    XRP Sinks 10% as Clarity Act Fails, Bitcoin Slides Toward $76,000

    XRP led a broad cryptocurrency sell-off Wednesday morning, plunging nearly 10% to $1.30 during Asian trading hours after the U.S. Senate failed to advance the Clarity Act, according to CoinDesk data.

    Major Tokens Slide Across the Board

    Ether followed with a decline of nearly 5% to approximately $2,410. Solana dropped 5% to just above $97, while Dogecoin fell nearly 5%. Zcash and Hyperliquid’s HYPE each slipped close to 4%, and Bitcoin retreated nearly 3% to just above $76,000. BNB and Tron proved the most resilient, each down only about 1%.

    Clarity Act Fails on Cloture Vote

    The legislation fell short on a 49-50 cloture vote, the procedural threshold requiring 60 senators to move a bill to debate. Multiple Republicans joined Democrats in voting against the measure. Negotiators had produced more than 600 pages of compromise text, but the provision that ultimately derailed the bill centered on ethics language designed to prevent senior government officials from maintaining crypto business interests.

    Senator Slotkin Cites Ethics Concerns

    Senator Elissa Slotkin, a Michigan Democrat, explained her opposition by stating the “the ethics provisions in this bill are simply too thin,” pointing to President Donald Trump, his children and his Cabinet earning money in crypto.

    She also said the Commodity Futures Trading Commission lacks the staffing to implement the law, and that the bill left gaps on money laundering and terrorist financing.

    Today, I voted no on the Clarity Act, legislation meant to regulate cryptocurrency in America.The ethics provisions in this bill are simply too thin. President Trump, his children, and his Cabinet are making billions of dollars in the crypto space, in part from bilking everyday…

    — Sen. Elissa Slotkin (@SenatorSlotkin) September 15, 2026

    Crypto Equities Hit Harder Than Tokens

    Publicly traded crypto companies suffered steeper losses than the underlying assets. Coinbase shares fell nearly 9% to $174.42, while Circle dropped more than 9% to $88.26. Galaxy Digital declined 8% and Gemini slid 7%. Bullish and Riot Platforms each lost 5%, eToro fell 4%, and Robinhood, MARA Holdings, CleanSpark, IREN and Core Scientific all dropped between 3% and 4%.

    Regulatory Path Forward Shifts to SEC

    Attention now turns to the regulators the bill was intended to constrain. The Securities and Exchange Commission is already advancing its proposed Reg Crypto framework and rules for tokenized securities, which now represents the primary pathway to the regulatory certainty the industry sought from Congress.

    Political and Market Implications

    Industry political action committees, including Fairshake, must now decide how to approach senators who voted against the legislation ahead of the November 3 election. A new Congress will convene in January 2027.

    Meanwhile, the Federal Reserve is scheduled to announce its rate decision later Wednesday, with traders leaning toward a quarter-point hike. The decision lands on a market that has just watched its legislative push collapse and is already selling risk assets.

  • Mike Novogratz Critiques Crypto Legislative Breakdown

    Mike Novogratz Critiques Crypto Legislative Breakdown

    Novogratz Slams Congress Over Clarity Act Failure

    Prominent crypto investor Mike Novogratz has sharply criticized Congress for failing to advance the Clarity Act, legislation designed to establish a regulatory framework for digital assets in the United States. In a recent social media post, Novogratz detailed how 18 months of bipartisan negotiations collapsed, leaving the industry without the regulatory clarity it has long sought.

    Bipartisan Deal Collapses Amid Ethics Disputes

    According to Novogratz, a compromise on the Clarity Act was within reach before political intransigence derailed the process. He emphasized that ethics concerns became a focal point of disagreement, causing both Republicans and Democrats to prioritize partisan positioning over the long-term health of the cryptocurrency sector. The breakdown underscores deep divisions in Washington over how to regulate digital assets.

    Market Reaction: Uncertainty Persists

    The broader crypto market has shown mixed signals, with major assets lacking substantial price momentum. Traders appear cautious, reflecting the uncertainty highlighted by Novogratz’s comments. Without clear legislative direction, many investors are holding back, awaiting concrete signals from Congress regarding the future of crypto regulation.

    Election Year Dynamics Could Delay Crypto Legislation

    As the U.S. elections approach, Novogratz suggested that crypto policy may not rank as a top-tier issue for voters, overshadowed by pressing concerns such as inflation and immigration. This political reality could further sideline legislative efforts, prolonging the regulatory vacuum that currently hampers industry growth and investor confidence.

    What Traders Should Watch Next

    Market participants should monitor how ongoing political discourse influences sentiment. The regulatory uncertainty could lead to increased volatility in digital asset prices. Shifts in legislative focus as the election nears may either hinder or facilitate progress on crypto legislation, directly impacting the trajectory of the market.

    This article is for informational purposes only and does not constitute financial advice.

  • CLARITY Act Vote Stalls in Senate

    CLARITY Act Vote Stalls in Senate

    Senate Stalls CLARITY Act, Amplifying Crypto Regulatory Uncertainty

    The U.S. Senate failed to advance the CLARITY Act today, a development that injects fresh uncertainty into the digital asset regulatory landscape. According to a report from Fireblocks, the legislative stall threatens to disrupt the independent rulemaking timelines of both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), leaving traders and investors navigating a prolonged period of ambiguity.

    Legislative Gridlock Complicates Agency Timelines

    The CLARITY Act was designed to establish clearer jurisdictional boundaries between the SEC and CFTC regarding digital assets, providing a statutory framework many argue is essential for fostering innovation and investor confidence. With the bill stalled, both agencies continue to draft rules through their existing notice-and-comment processes—a timeline that extends roughly two years into the future.

    Fireblocks highlights that this legislative vacuum forces market participants to operate under overlapping and potentially conflicting regulatory regimes for the foreseeable future. The lack of congressional action effectively cedes the pace and shape of crypto regulation to agency-level proceedings, which may not align with industry needs or market realities.

    Mixed Market Signals Reflect Cautious Sentiment

    The broader cryptocurrency market is currently exhibiting mixed momentum across major assets, a pattern consistent with heightened regulatory sensitivity. The absence of decisive price action suggests traders are adopting a wait-and-see posture, recalibrating strategies around the extended horizon for regulatory clarity.

    Key factors influencing near-term sentiment include:

    • Potential revival of CLARITY Act discussions in the Senate
    • Upcoming SEC and CFTC rule proposals and comment deadlines
    • Shifts in trading volumes tied to regulatory news flow

    What Market Participants Should Monitor

    Stakeholders should track any signals of renewed legislative momentum around the CLARITY Act, as well as formal rulemaking publications from the SEC and CFTC. The interplay between congressional action and agency rulemaking will likely dictate market structure, compliance costs, and the competitive landscape for digital asset services in the U.S. over the next two years.

    This article is for informational purposes only and does not constitute financial advice.

  • Senate Stalemate on Clarity Act Prompts BitGo Custody Call

    Senate Stalemate on Clarity Act Prompts BitGo Custody Call

    BitGo Pushes Federally Regulated Banking Amid Clarity Act Senate Stall

    The stalled progress of the Clarity Act in the Senate has raised significant concerns regarding asset security, prompting digital asset custodian BitGo to advocate for the protection of assets through federally regulated banks. The situation underscores the growing importance of secure custody solutions for investors despite ongoing legislative delays.

    Regulatory Uncertainty Fuels Market Anxiety

    The broader crypto market is navigating mixed signals, with uncertainty surrounding regulatory developments contributing to trader anxiety. BitGo’s recent commentary draws attention to the need for secure asset custody solutions, especially as the Clarity Act — which aimed to provide regulatory clarity — faces delays in the upper chamber. This scenario places additional pressure on investors to seek secure and federally insured banking options for asset protection.

    Key Developments at a Glance

    • BitGo advocates for secure custody options for investors.
    • The Clarity Act’s progress has stalled in the Senate.
    • BitGo emphasizes the importance of federally regulated banks.
    • The market reflects mixed signals amid regulatory uncertainty.
    • Investors are urged to consider secure asset solutions.

    Market Context and Trading Implications

    In the current market context, hesitation surrounding regulatory clarity has led to mixed performance across major assets. As traders assess the implications of the stalled Clarity Act, there is a growing focus on stable custody solutions to protect their investments. The lack of a decisive legislative path may lead to further caution among investors in the near term.

    BitGo is a leading digital asset custody provider specializing in secure storage solutions for cryptocurrencies. The Clarity Act, aimed at clarifying regulations for digital assets, falls under the jurisdiction of the Senate, which has the authority to create laws affecting financial institutions and digital asset management.

    What to Watch Next

    Traders are monitoring the potential for further clarity on regulatory frameworks that could affect custody solutions. The ongoing uncertainty may lead to heightened interest in secure banking options, particularly as market participants seek stability. Investors should remain vigilant for any developments in the Senate regarding the Clarity Act, as these could significantly impact market sentiment and trading strategies.

    This article is for informational purposes only and should not be considered financial advice.

  • Bitcoin, Ethereum, XRP Plunge After CLARITY Act Fails in Senate Vote

    Bitcoin, Ethereum, XRP Plunge After CLARITY Act Fails in Senate Vote

    Bitcoin, Ethereum, XRP Face Selling Pressure After Senate CLARITY Act Vote Fails

    Major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and XRP came under fresh selling pressure Thursday after the U.S. Senate failed to advance the CLARITY Act, a key piece of digital-asset market structure legislation.

    Senate Procedural Vote Falls Short of 60-Vote Threshold

    A procedural vote on the bill did not secure the 60 votes needed to overcome a filibuster, effectively stalling the legislation. The defeat concludes months of negotiations between Republicans and Democrats over the regulatory framework for digital assets.

    Market Reaction Reflects Regulatory Uncertainty

    The immediate market reaction underscores how sensitive crypto prices remain to policy developments in Washington. Traders had been monitoring the CLARITY Act closely, viewing its passage as a potential catalyst for institutional adoption and clearer compliance guidelines.

    According to the latest market data, the three assets erased earlier gains following news of the vote’s failure, with selling pressure accelerating during the U.S. trading session.

    What the CLARITY Act Would Have Done

    The bipartisan bill aimed to establish clear jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for digital asset oversight. It also sought to define when a token qualifies as a security versus a commodity — a distinction that has been central to enforcement actions and industry uncertainty.

    Outlook for Crypto Regulation in Congress

    With the legislative calendar tightening ahead of the November elections, the path forward for comprehensive crypto market structure legislation remains unclear. Market participants will now watch for potential attachment to must-pass spending bills or renewed bipartisan efforts in the next session.