Bitcoin Slides to $76,941 Ahead of Senate and Fed Decisions

Bitcoin trades at $76,941. This price sits 0.57% above the $76,500 support level. Solana follows at $100.74, just 0.74% above its $100 floor. Both assets face immediate pressure. The Senate votes on the CLARITY Act at 2:15 p.m. ET on September 15. The Federal Reserve announces its rate decision on September 16.

All four major cryptocurrencies are down for the week. Bitcoin is down 2.2% over seven days. Solana is down 2.7%. The drop occurs despite strong monthly gains. Bitcoin is up 22.2% over 30 days. Ethereum is up 31.7%. Solana is up 33.9%. XRP leads the group with a 40% monthly gain. The recent decline is a pullback within a broader uptrend.

Oil Prices Drive Inflation Fears

Brent crude reached $110 on September 10. WTI traded near $102.64 on September 14. Both benchmarks added close to 9% across the week. Oman postponed Gulf-Iran shipping talks late on September 13. Saudi Arabia’s East-West pipeline remains shut after drone strikes. These events removed expectations for cheaper oil. August CPI arrived at 3.4% year over year. Core inflation stood at 2.4%. The 10-year Treasury yield hit 4.95% on September 10.

Traders now price a Fed hike at 85% to 87%. This contrasts with expectations of a cut a month ago. The European Central Bank adopted a hawkish tone last week. Oil feeds directly into inflation metrics. Higher inflation reduces the likelihood of rate cuts. This macro backdrop weighs on risk assets. Bitcoin and Solana remain vulnerable to further downside if these levels break.

Senate Vote Remains Uncertain

Cloture requires 60 votes to end debate. Republicans hold 53 seats in the Senate. At least seven Democrats must cross the aisle. The final text was released on September 13 and 14. It includes 126 changes requested by Democrats. Polymarket traders price the bill at 29.5% to become law this year. Kalshi reads the probability at 37%. This uncertainty prevents traders from pricing the outcome.

A Fed hike is already priced in at 87%. A cloture vote near a coin flip offers no clear direction. Traders cut risk to manage this binary uncertainty. The market cannot hedge a political vote as easily as a rate decision. This leads to defensive positioning. The CLARITY Act vote remains the primary wildcard for digital assets.

XRP Outperforms Major Peers

XRP gained 40% over 30 days. It lost only 0.1% over the past seven days. Bitcoin and Solana fell 2.2% and 2.7% respectively. Five spot XRP ETFs trade in the United States. These funds hold $1.58 billion in net assets. They took in $11.26 million on September 14, per GN markets/crypto (en-US). This inflow moves coins off exchanges and into custody.

Reduced supply available for sale steadies the price. XRP broke below $1.33 on September 11. It recorded a third straight daily decline then. The price has since climbed back above that level. The floor held despite the initial break. Structural support from ETF custody provides a buffer. This dynamic distinguishes XRP from other major assets in the current market.