Why Is Ethereum (ETH) Down 4.79% Today, September 16, 2026? CLARITY Setback and Fed Risk Drive Leveraged Selling

ETH underperformed in a broad crypto risk-off move as a procedural setback to the U.S. CLARITY Act increased regulatory uncertainty while rising Treasury yields and elevated Fed hike expectations tightened financial conditions. Derivatives open interest rose into the selloff, indicating leverage remained high and amplifying forced long reductions. Heavy spot turnover suggests active deleveraging rather than an Ethereum-specific fundamental shock.