Bitcoin struggles near $75,000 after legislative defeat and ahead of Fed policy updates, as market participants weigh regulatory uncertainty against macroeconomic headwinds.
Bitcoin trades near a four-week low of $75,877 following the U.S. Senate's 49-50 rejection of the Clarity Act. Investors are now bracing for the Federal Reserve's interest-rate decision, with analysts warning that a sustained tightening cycle could further pressure digital assets as they compete with rising Treasury yields.
The bill failed to reach the 60-vote threshold required to advance to a formal floor vote, ending with a 49-50 tally.
Investors fear that a sustained interest-rate tightening cycle will increase Treasury yields, making them more attractive than volatile digital assets.