Bitcoin is trading around $76 000 following the failure of the Digital Asset Market Clarity Act in the Senate. Analysts suggest that the upcoming Federal Reserve decision carries more weight for market prices than the legislative outcome.
Market data from Talos indicates a 28% net buying tilt toward stablecoins, while buying conviction for Bitcoin has dropped from 10% to 3%. Ethereum conviction also declined from 23% to 9% as investors prioritize liquidity.
Hedge funds maintain a 25% net buying tilt, contrasting with systematic and quantitative strategies that have shifted toward selling. Research analysts note that market participants are reducing risk ahead of the Fed meeting.
Prediction market Myriad assigns a 72% probability to Bitcoin reaching $84 000. Meanwhile, experts emphasize that U.S. dollar liquidity remains the primary driver for market trends rather than congressional policy.
Regulatory agencies, including the CFTC and SEC, have indicated plans to draft crypto market structures using existing authority. However, analysts warn that legal uncertainty continues to drive up operational costs for DeFi and smaller projects.
