The U.S. Senate failed to advance the CLARITY Act on September 15, with a procedural vote of 49-50 falling short of the required 60 votes. The legislation aimed to define jurisdictional boundaries between the SEC and CFTC regarding digital assets. Following the news, Polymarket odds for the bill's passage in 2026 dropped from approximately 30% to 5%.
Market reaction to the legislative setback was immediate. XRP declined nearly 10% toward $1.30, while Bitcoin fell below $76,000. Within minutes of the vote, over $300 million in leveraged positions were liquidated. Analysts are now monitoring support levels near $1.00–$1.10 for XRP and $74,000–$75,000 for Bitcoin.
Attention has shifted to the Federal Reserve's rate decision scheduled for September 16. Markets estimate a 92.5% probability of a 25-basis-point hike, which would raise the federal funds rate to a range of 3.75% to 4.00%. Investors are focused on the upcoming remarks from Fed Chair Kevin Warsh to gauge future monetary policy.
