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Bitcoin slid 2.39% to $76,314 on September 15, as two of the most consequential events for crypto markets in recent memory lined up on the same calendar day. The Senate’s cloture vote on the Digital Asset Market Clarity Act is scheduled for 2:15 p.m. ET, and the Federal Reserve is expected to announce its first interest rate increase in three years.
The Clarity Act’s long road to the Senate floor
The Digital Asset Market Clarity Act creates a framework for distinguishing digital commodities from securities, splitting oversight duties between the CFTC and the SEC.
The bill has already cleared significant hurdles. It passed the House of Representatives with a 294-134 vote back in July 2025. Then in May 2026, the Senate Banking Committee approved it 15-9, moving it closer to a full floor vote.
The bill needs 60 votes to clear the filibuster threshold, and bipartisan negotiations over ethics provisions and consumer protections have slowed its momentum considerably. A 635-page draft incorporating 126 changes was released on September 14, giving senators barely 24 hours to digest the latest version before voting on whether to advance debate.
The Fed factor
The Federal Reserve is expected to raise its target interest rate by 25 basis points, bringing the range to 3.75% to 4%. This would mark the first rate hike in three years.
What passage, or failure, would mean
If the Clarity Act clears the 60-vote threshold and advances to a full Senate vote, the bill would establish the first comprehensive federal framework for digital asset regulation in the US. Large asset managers, pension funds, and endowments have consistently cited the absence of clear rules as a primary reason for limiting their crypto exposure.
If the Fed signals an extended tightening cycle, the headwinds for Bitcoin and other risk assets could persist well beyond today’s session. Bitcoin’s 2.39% dip reflects traders clearing the deck before the storm arrives, with real price discovery starting after 2:15 p.m. ET, when both the Senate vote outcome and the Fed’s intentions become public knowledge within hours of each other.
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