CLARITY Act Vote and Rate Decision - Crypto at a Crossroads
📊 Today and tomorrow look like pretty crucial days for crypto's next direction (and beyond). The crypto market has clearly frozen in anticipation of the following events:
🗳 Today at 17:15 UTC - expecting the vote on the CLARITY Act. Latest news: Democrats sent Republicans a counter-proposal on its provisions. Disagreements still remain. Cointelegraph reports the chances of passage have dropped to 16%. Seems like the already-low odds of passing are fading away completely.
💵 Tomorrow, September 16 - the rate decision. A lot of statistical data, treasury yields, inflation numbers, and market expectations all point to a hike. Even though Warsh is Trump's pick and strongly advocates for a cut.
If the vote fails and the rate gets hiked as expected, I think markets will react negatively in the moment - after that, everything will depend on liquidity. Will they increase long-dated treasury buybacks, for example? If so, we could start climbing again. One thing's for sure: the chart is heading right, and it'll likely be more volatile than usual over the next 2-3 days. Since there's no clear read here, I'll be watching from the sidelines and only make a move if I spot some obvious skew in the moment.
Originally posted on Telegram Channel.