Bitcoin Slips to ₩104 Million as Market Awaits FOMC and CLARITY Act Vote

Bitcoin's price continued to slide on South Korean exchanges, reaching ₩104.49 million (approximately $78,000) on August 14th, a decline of 0.49% from the previous day. The cryptocurrency market is bracing for two major events: the Federal Open Market Committee meeting and a vote on the CLARITY Act.

The FOMC meeting, scheduled for August 15-16, will announce its benchmark rate decision and release its Summary of Economic Projections. The market is anticipating how the Fed will assess inflationary pressures, with recent data showing both headline and core inflation accelerating year-over-year.

Yuya Hasegawa, an analyst at Japanese crypto exchange bitbank, warned that a hawkish FOMC outcome could see Bitcoin break below its recent high range support level of $75,500 (approximately ₩100 million) and slide toward $70,000 (approximately ₩94 million).

The CLARITY Act vote on August 15th is also seen as a key variable for the cryptocurrency market. The bill aims to establish a regulatory framework for the crypto market, but its prospects are uncertain.