Bitcoin Defies Senate Setback, Trades Above $76K
A procedural setback for the Digital Asset Market CLARITY Act in the Senate has not dented Bitcoin's price. The cryptocurrency is trading at $76,300, with a market cap of about $1.532 trillion and 24-hour trading volume of around $29 billion. This comes after the bill fell short of the 60 votes required to advance in a procedural vote on Tuesday.
The CLARITY Act aimed to provide comprehensive U.S. crypto market-structure legislation, but its future is now uncertain as the midterm legislative calendar approaches. Senate Democrats blocked the measure's advancement amid concerns about government ethics provisions and presidential conflicts of interest. Community banks' lobbying over stablecoin reward rules and Republican defections also weakened the bill's momentum.
Bitcoin had dropped to around $75,600 on September 16 from nearly $80,000 before the vote. Despite this setback, the cryptocurrency has shown strength in recent days. The provider's 2026 outlook characterizes the year as a recovery period rather than a renewed push to record highs, with a projected range of $59,500 to $84,200 and an average near $71,400.
The outlook identifies Federal Reserve rate cuts and sustained spot-ETF inflows ahead of the 2028 halving as its main bullish factors. It also notes higher-for-longer rates and a sustained break below $58,300 as the principal downside risk.