Crypto Price Today: Bitcoin Stuck Near $77,000 as the Fed and the CLARITY Act Collide

Rate hikes are the opposite of what crypto rallied on for the last two years. Bitcoin's 24% run from mid August to early September was built on $3.34 billion of US spot ETF inflows between 19 August and 4 September. That bid has now cooled: the last four sessions before 14 September produced $462.7 million of combined Bitcoin ETF outflows, ending a three week inflow streak. Institutional appetite did not vanish. It just stopped chasing.The mitigating detail is that long term holders are not the ones selling. Glassnode's Sell-Side Risk Ratio has dropped to 7 basis points per day from 16 at August's peak, and long term holders accounted for only 47% of realised profits versus 88% in August. The old coins are staying put. What is missing is new money.What Does the CLARITY Act Vote Mean for Crypto Prices Today?The second question mark is regulatory, and it is arguably the bigger one. At 2:15 pm ET today the US Senate holds a cloture vote on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act. Sixty votes are needed. The bill splits oversight of digital assets between the SEC, which keeps securities, and the CFTC, which would gain exclusive jurisdiction over digital...