Bitcoin price has fallen below $78,000 as macro pressure returned to global markets, erasing the short-lived rally that followed progress on the U.S. CLARITY Act earlier in the week.
At press time, the $BTC price was trading near $77,984, down about 3.59% over the past 24 hours. The decline came after Bitcoin briefly moved above $82,000 when the U.S. Senate Banking Committee advanced the Digital Asset Market Clarity Act in a 15-9 bipartisan vote.
That regulatory boost faded as investors reacted to rising U.S. bond yields and fresh concerns that the Federal Reserve may keep policy tighter for longer. The U.S. 10-year Treasury yield climbed to about 4.58%, making fixed-income assets more attractive compared with risk assets such as crypto.
Source: X
Consequently, the market pricing now shows rising concern of up to 60% that the Federal Reserve’s next move could be an interest rate hike rather than a cut. Persistent inflation has kept pressure on Bitcoin, technology stocks, and other assets sensitive to liquidity conditions.
CLARITY Act Rally Fades Quickly
Bitcoin’s earlier move above $82,000 came after the Senate Banking Committee advanced the CLARITY Act, a digital asset market structure bill aimed at creating clearer rules for crypto markets in the United States.
The bill is designed to separate digital asset securities from commodities and give federal regulators clearer authority. For Bitcoin, traders viewed the vote as supportive because $BTC is widely treated as a digital commodity.
However, the committee vote did not remove broader market pressure. The bill still needs full Senate approval and further coordination with House legislation before it can become law.
The rally above $82,000 lasted only briefly. Sellers returned near resistance, and Bitcoin moved back below $80,000 before sliding toward the $78,000 region.
Analysts said the failure to hold the $82,000 area showed that regulatory optimism alone was not enough to overcome macro pressure, ETF outflows and selling from short-term holders.
$BTC ETF Outflows and Miner Sales Add Pressure
Spot Bitcoin exchange-traded funds in the United States recorded total net outflows of $290 million on May 15, according to SoSoValue data cited in market reports. None of the 12 spot Bitcoin ETFs recorded net inflows that day.
U.S. spot Ethereum ETFs also posted total net outflows of $65.65 million, marking the fifth straight day of withdrawals. The outflows added to caution across the digital asset market.
Bitcoin miners have also been selling. CryptoQuant data cited by analyst Ali Martinez showed that miners reduced their holdings by about 800 $BTC in recent days, worth roughly $64 million at current prices.
Miner selling can add supply to the market during weak periods. If demand from ETFs and spot buyers remains soft, additional miner sales may make it harder for $BTC to recover quickly.
Some analysts have warned that Bitcoin’s recent move above $82,000 may have been a bull trap. Merlijn The Trader said the rejection could open the way for a deeper correction toward $63,000 if sellers keep control.
Bitcoin Price Must Reclaim $80,000, Here’s Why
Technically, the Bitcoin price has lost the rising trendline that supported its move from early April. On the four-hour chart, $BTC is now trading below the breakdown area, with the $79,500 to $80,000 zone acting as the first resistance to reclaim.
A clean four-hour close above $80,000 would reduce short-term selling pressure and could allow Bitcoin to retest the $82,000 to $83,000 resistance range. That zone remains important because $BTC has failed several times to break above it with strength.
If Bitcoin stays below $80,000, the structure favors choppy trading or another move lower. Current support sits near $77,500 to $78,000.
Source: X
A break below $77,500 could bring the $74,000 to $74,500 demand area into view. Below that, traders are watching deeper support near $67,500 to $68,000 and then $65,500.
Crypto analyst Scient said the four-hour uptrend has been lost and price has moved back inside the prior range. The analyst said longs are more attractive near $74,500 unless Bitcoin reclaims $80,000 with volume and strength.
