BTC USD Analysis: Oil, Fed and Senate Uncertainty Weigh on Bitcoin

BTC USD fell below $77,000 early Tuesday, reversing Monday's rally above $79,000, as traders watched the Senate's scheduled procedural vote on the Digital Asset Market CLARITY Act and a renewed rise in oil prices.

The vote matters because it determines whether the Senate can move forward on legislation intended to create a regulatory framework for digital assets in the United States.

It is not a final vote on the bill. The procedural step requires 60 votes, meaning Republican support alone would not be enough to advance the measure toward Senate consideration.

For the crypto market, the scheduled vote arrives alongside a separate macroeconomic concern. Higher oil prices have revived inflation worries ahead of an expected Federal Reserve interest-rate decision, leaving Bitcoin exposed to both policy uncertainty and broader pressure on risk assets.

Bitcoin, XRP And Ethereum All Give Back Monday's Gains, Can CLARITY Act Decision Reverse Course?

Bitcoin reversed Monday's rally during Tuesday's Asian trading session, slipping from highs above $79,000 to trade near $77,800, and now below $77,000. However, the pullback wasn't limited to Bitcoin.

XRP retreated to about $1.40 from a recent high near $1.49, while still appearing on track to form a bullish golden crossover. Ethereum and Solana also moved lower, according to CoinGecko data.