Fed Decision May Outweigh Rejection of Clarity Act for Bitcoin Prices

Bitcoin prices hovered around $76,000 after the Senate failed to pass the Digital Asset Market Clarity Act.

Analysts argue that Wednesday's Federal Reserve decision will have a greater impact on Bitcoin's price than the vote on the legislation.

Strategy and revenue director at Algoz, Stephen Wundke, said there is a 93% chance of a quarter-point increase in interest rates, which would be a given based on CME FedWatch.

This decision could have significant effects on cryptocurrency markets, with some analysts predicting dovish signals that could boost prices in the last quarter of the year.