Crypto Market Braces for Pivotal Week of Events
The global cryptocurrency market is bracing for a pivotal week of events that could either propel Bitcoin to new heights or trigger another downturn.
The U.S. Senate's CLARITY Act vote on Tuesday will be a key indicator, with the bill needing 60 votes to advance and begin formal debate. Senator Cynthia Lummis released the final draft, which includes major new ethics rules and over 120 changes requested by Democrats, but some Republicans, banks, and industry groups still oppose parts of the bill.
On Wednesday, the Federal Reserve will announce its interest rate decision, with market expectations pointing to a 25-basis-point hike. Fed Chair Kevin Warsh's comments will also be closely watched for clues on potential future hikes, which could tighten liquidity and put pressure on Bitcoin and other risk assets.