Bitcoin Slips to $76,076 as Senate Crypto Bill Vote Looms and Fed Decision Nears

Bitcoin retreated on Tuesday, dipping to about $76,076 intraday before hovering near $76,314, according to CoinMarketCap. The pullback came as traders pared risk exposure ahead of the Federal Reserve's rate decision and weighed uncertainty around a key procedural vote in the U.S. Senate on the Digital Asset Market Clarity Act. Pressure was broad-based across risk assets. U.S. stock futures softened ahead of the open, with the S&P 500 and Nasdaq starting the session lower. The 10-year Treasury yield pushed toward its highest level since 2023. Oil prices advanced on concerns about potential Middle East supply disruptions, adding to a more defensive tone. Tech shares also faced headwinds amid renewed debate over AI safety. Crypto tracked the cautious mood. Bitcoin opened around $78,185, briefly reached $78,242, then reversed lower, ending the day down about 2.39%. It marked the lowest daily close since the asset's recent "golden cross" signal. Market attention has shifted to Washington. The Senate was set to hold a cloture vote at 2:15 p.m. Eastern on Tuesday for the Digital Asset Market Clarity Act, a procedural step required to begin formal debate. Cloture typically requires 60 votes, and confidence in meeting that threshold has faded in recent weeks. Prediction markets have also marked down the odds of the bill becoming law by 2026 since September, though probabilities have ticked slightly higher in recent days following reports of new concessions. A failed cloture vote would not formally kill the bill, but it could push comprehensive crypto market legislation beyond the midterm elections. That would leave the industry operating under the current patchwork of regulation and enforcement led by the SEC and CFTC. Two catalysts are arriving back-to-back: the Senate's procedural vote Tuesday afternoon and the Fed's interest-rate decision Wednesday. Risk assets have already moved toward more cautious pricing. For crypto, near-term volatility is being driven less by idiosyncratic moves and more by the combined pull of policy risk and macro expectations. A legislative stall could further cool hopes for clearer U.S. rules, while a hawkish Fed outcome could widen pressure across risk markets.