Bitcoin Price Under Pressure as Clarity Act Vote Looms

The Bitcoin price is facing a crucial test as investors await the outcome of the Clarity Act vote and the Fed's next rate hike decision.

A dovish stance by the Fed could have a significant impact on Bitcoin's short-term price action, with some analysts expecting a strong spike in volatility during the central bank's presser.

The current daily chart shows that BTC has invalidated a bullish flag pattern and may retest the 200-day exponential moving average (EMA) from above, currently sitting at $73,000.

If this key support level holds, Bitcoin could resume its rally to $85K. However, if sellers overpower buyers at this price zone, it could indicate a strong shift in the overall narrative favoring bears.