Bitcoin Holds Firm Above $76K as Monetary Policy Prospects Turn Hawkish

Bitcoin has maintained its position above $76K despite growing headwinds from monetary policy prospects, which are becoming more hawkish. The cryptocurrency's consolidation has alleviated localized market overbought conditions, with the RSI on daily charts falling back towards the neutral 50 level.

In a technical analysis, Bitcoin is pulling back from the lower boundary of its consolidation range and may face a tough road ahead given the current market dynamics. However, a rise up to the region around $80K does not seem to face significant resistance.

The US President met with his advisers to discuss the CLARITY Act, a bill regulating the crypto market. An important procedural vote on this bill is scheduled for Tuesday in the US Senate and will be crucial to its progress through the legislative process.