Bitcoin Price Holds Near $77,850 as Fed Decision and CLARITY Act Vote Approach

Bitcoin price is holding near $77,850 after briefly climbing above $78,300, as traders prepare for a Federal Reserve interest-rate decision and a potential Senate vote on the CLARITY Act this week.

Bitcoin gained 1.5% over the past 24 hours before retreating from its session high. However, the cryptocurrency remains down approximately 2.7% over the past seven days, reflecting a slowdown in momentum following its August rally. 

Meanwhile, renewed outflows from U.S. spot Bitcoin exchange-traded funds (ETFs) are raising questions about the strength of institutional demand.

US spot Bitcoin ETFs recorded $462.73 million in net outflows last week, according to SoSoValue data, ending a three-week period of net inflows totaling approximately $3.83 billion. 

The reversal comes after a strong August rally, during which Bitcoin reportedly posted its best monthly performance since 2021. Strong ETF demand and a short squeeze helped lift Bitcoin away from the $60,000 level. 

However, the latest ETF data suggests that buying pressure may have weakened in September. Sustained outflows could place additional pressure on Bitcoin price, particularly if broader risk appetite also deteriorates. 

Several developments could influence Bitcoin price in the coming days. 

The U.S. Senate is expected to vote on legislation addressing the regulatory framework for digital assets on Tuesday, September 15.

Senate Republicans released a final draft of the Crypto Clarity Act, including an ethics proposal backed by President Trump. 

The bill covers stablecoin rewards, decentralized finance rules and commodities regulation, and faces a procedural vote Tuesday requiring 60 votes to advance.

The Federal Open Market Committee (FOMC) is scheduled to announce its monetary policy decision on September 16. 

Interest-rate expectations can influence Bitcoin price because monetary policy affects liquidity, bond yields, and investor appetite for risk assets.

An expected quarter-point hike could lift the range to 3.75%–4.00%, though the committee has not confirmed a decision. Rate markets assign an 87% probability to a September hike following recent inflation data.

Bitcoin analyst Axel Adler Jr. said that Bitcoin was holding near the $77,000 level but warned that the recovery remained fragile.

According to his BTC price analysis, rising selling pressure, weak U.S. spot demand, and increased selling in derivatives markets could limit Bitcoin's upside. 

He also highlighted a persistent Coinbase discount as a potential sign that U.S. buying pressure remains insufficient to confirm a sustained recovery.

Bitcoin price faces several important catalysts this week, including the Federal Reserve's policy decision, developments surrounding crypto legislation, and the latest ETF flow data.

A favorable macroeconomic backdrop and renewed institutional demand could support a recovery. Conversely, continued ETF outflows, a more restrictive Fed outlook, or negative regulatory developments could increase selling pressure.

For now, Bitcoin's ability to hold above recent support levels, and whether ETF demand improves, may provide important clues about the strength of its recovery.

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