- Bitcoin fell below $75K after the Senate’s CLARITY Act setback.
- ETF outflows and Fed uncertainty added further pressure on BTC.
The largest crypto, Bitcoin, is trading around $75,700 on Wednesday after another move lower, with BTC briefly falling below $75,000 before recovering part of the loss. The decline follows a combination of the U.S. Senate’s failure to advance the CLARITY Act, heavy ETF outflows and growing caution ahead of the Federal Reserve’s interest-rate decision.
The immediate shock came from Washington. The Senate voted 49-50 on Tuesday on a procedural motion to advance the CLARITY Act, falling well short of the 60 votes required. Bitcoin dropped about 4% after the vote, while crypto-linked stocks including Coinbase also moved sharply lower.
The selling continued into Wednesday as traders waited for the Fed’s decision. Markets are widely expecting a 25-basis-point rate hike, but the bigger focus is likely to be on the central bank’s guidance for the months ahead. The 10-year U.S. Treasury yield recently moved above 5%, its highest level since 2007, keeping pressure on risk assets.
ETF Outflows Add to Bitcoin’s Selling Pressure
Institutional flows have also turned less supportive. U.S. spot Bitcoin ETFs recorded about $450.33 million in net outflows on September 15, their largest single-day withdrawal since June 25, according to SoSoValue data. Bitcoin and Ethereum ETFs together lost roughly $592 million during the session.
The market is also dealing with forced selling. The CLARITY Act Senate vote triggered a wave of long-position liquidations across crypto derivatives, adding to the downward move as leveraged traders were forced to close positions. Over 117,410 traders were liquidated, totaling $659.08M in the past 24 hours.
From a price perspective, $75,000 is the key level to watch now. BTC dipped to around $74,984 today, so this area is already being tested after the recent sell-off. The 4-hour chart shows sellers still in control for now, with BTC trading below the 9-period SMA around $76,315. RSI has also dropped to 31.85, showing that selling has become stretched and a short-term bounce is possible.
For BTC to stabilize, the first step would be getting back above $77,000–$78,000. That would help ease the current selling pressure and put the price back above the short-term moving average. If buyers can push further, $80,000–$82,000 remains the bigger resistance area. For now, though, $75,000 is the level that matters most. A clean break below it would leave the recent $74,984 low exposed.
For now, Bitcoin’s move is being driven by several pressures at once: the CLARITY Act setback, weaker ETF demand, elevated Treasury yields and positioning ahead of the Fed decision. The next major price reaction will depend heavily on how markets interpret the Fed’s rate decision and guidance.
Highlighted Crypto News:
Confidential Robinhood Data Allegedly Fueled Hyperliquid Trades: Two Engineers Charged
