Bitcoin Sinks to $75.6K as Bond Yields Hit Multi‑Decade Highs—Will a High‑Stakes CLARITY Vote Matter?
Bitcoin fell to $75,560 at Tuesday’s Wall Street open, its lowest level so far this month, as traders watched a key US Senate procedural vote on the CLARITY Act and global bond yields spiked, according to the source text. Data from TradingView cited in the report showed BTC/USD dipping under $76,000 after tagging $79,600 the prior day.
CLARITY’s narrow path keeps crypto on edge
The procedural vote on the CLARITY Act was slated for 2:15 p.m. Eastern, with 60 votes needed to advance the bill to a Senate‑floor debate, per the report. As Cointelegraph previously reported, “consensus sees barely any chance of success,” and Polymarket users priced CLARITY at just 14% odds of becoming law in 2026 as of Tuesday.
In analysis cited by the report, QCP Capital wrote that while passage “would clarify the respective regulatory roles of the SEC and CFTC, potentially strengthening the medium-term case for institutional adoption by reducing regulatory uncertainty… procedural progress does not guarantee final passage, and the timing of remaining legislative steps will determine the immediate market impact of any vote this week.”
Bonds jump; stocks slip
US stocks turned lower as sovereign yields pushed to their highest levels in decades, the report noted. The US 10‑year Treasury yield moved above 5% for the first time since November 2023 and reached 5.041%, described as a level not seen since June 2007 in the source text. Reuters reported that the average 10‑year yield across the G7 rose to 4.285%, its highest since mid‑2008.
In Europe and Asia, the UK 30‑year gilt yield hit 5.95% for the first time since March 1998, and Japan’s 10‑year government bond yield reached 3.04%, the highest in 30 years, according to the report.
Rate‑hike bets and oil near $105
Responding to the surge in yields, trading resource The Kobeissi Letter wrote on X that “Monetary policy is shifting, rate hikes are returning, and the next battle against inflation has started… Yields are simply unsustainable at current levels.” The report added that the US Federal Reserve was widely expected to raise its benchmark rate by 0.25% on Wednesday, with the Bank of Japan expected to do the same on Friday.
The article also linked rising yields to renewed inflation risks from high energy prices. WTI crude oil neared $105 per barrel on Tuesday, heading for its highest levels since early May, per the source text and a Cointelegraph/TradingView chart.