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Bitcoin traded near USD 76,000 on September 17 after the Federal Reserve raised interest rates by 25 basis points and the US Senate failed to advance the CLARITY Act.
The cryptocurrency avoided another sharp decline after falling earlier in the week as traders responded to tighter monetary policy and uncertainty around US crypto rules.
Bitcoin closed September 16 near USD 76,147, according to CoinGecko data. It had traded around USD 75,590 a day earlier after the Senate vote. The price action kept BTC close to the USD 75,000 support area, while traders watched the USD 77,000 to USD 78,000 range.
The Federal Open Market Committee voted 12-0 on September 16 to raise the federal funds target range to 3.75% to 4%. The Fed said inflation remains elevated and said the increase would support a faster return toward its 2% goal. The move marked the central bank’s first rate increase since 2023.
Fed Chair Kevin Warsh said the US economy ‘appears to be strengthening’ and said he would be ‘hard-pressed to describe broad financial conditions as restrictive.’ Updated Fed projections showed 16 of 18 policymakers expect at least one more rate increase in 2026. The median projection placed the federal funds rate at 4.1% at year-end.
Bitcoin showed a limited immediate reaction to the decision. Markets had largely expected the quarter-point increase. However, higher short-term rates can raise returns on cash and fixed-income assets, giving traders another factor to consider when allocating money to non-yielding assets such as Bitcoin.
US spot Bitcoin exchange-traded funds recorded USD 450.33 million in net outflows on September 15, according to SoSoValue data. The funds then recorded another USD 295.98 million in net redemptions around the September 16 session, bringing the two-session total to about USD 746 million.
The outflows followed Bitcoin’s decline after the Senate vote and came as investors prepared for the Fed decision. Bitcoin had traded above USD 80,000 earlier in September. CoinGecko data show BTC closed at USD 81,265 on September 3 and at USD 76,147 on September 16.
Traders continue to watch short-term price levels. Bitcoin has held around USD 75,000, while resistance sits near USD 77,000 to USD 78,000. A break below USD 75,000 would put lower support zones back in focus, while a move through resistance would bring the USD 81,600 area into view.
The Senate failed to advance the CLARITY Act on September 15. Reuters reported a 50-49 vote, below the 60 votes needed to clear the procedural step. Four Republican senators joined Democrats in opposing advancement. The bill seeks to create a federal market structure for digital assets and define regulatory roles for the SEC and CFTC.
The failed vote did not end congressional work on other crypto measures. On September 16, the House Financial Services Committee voted 28-21 to advance the American Reserve Modernization Act. The proposal would establish a Strategic Bitcoin Reserve at the Treasury and require the government to hold qualifying Bitcoin for at least 20 years.
The House Ways and Means Committee also voted 38-5 to advance the Digital Asset Tax Certainty Act. The proposal addresses federal tax treatment for digital assets, including certain transaction fees, mining and staking income. Both measures still require further action in Congress before they can become law.
Bitcoin entered September 17 near USD 76,000, with monetary policy, ETF flows and crypto legislation shaping trading conditions. Traders are watching whether the USD 75,000 area holds as markets adjust to the Fed’s new rate path.
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