Bitcoin recovered from its dip
Bitcoin started the week near $77,000 before falling toward $75,000 following the unsuccessful CLARITY Act vote. Overnight on September 18–19, however, it reached $81,000. It ended the week up more than 4.8%, holding above $80,000.
Total crypto market capitalization increased from $2.63 trillion to $2.75 trillion. Notable gainers included Zcash (+32%), Hyperliquid (+17%) and Solana (+8%).
ETF flows diverged
Spot Bitcoin ETFs recorded net weekly inflows of $6.21 million, with Friday’s $433 million inflow bringing the total into positive territory. Ethereum funds, meanwhile, saw $140 million in outflows, ending a four-week inflow streak.
The Fed raised rates as the CLARITY Act stalled
On September 16, the Federal Reserve raised its target rate range by 25 basis points to 3.75–4%. This was its first increase since July 2023.
A day earlier, a procedural vote on the CLARITY Act ended with 49 votes in favor and 50 against, short of the 60 needed to advance the bill. The industry shifted its attention to forthcoming SEC and CFTC rules.
Ethereum and Base will proceed separately
The teams failed to agree on a shared approach to account abstraction and will develop EIP-8141 and EIP-8130 independently. If both proposals are implemented, wallet developers will need to support two native transaction formats.
US Bitcoin reserve bill clears committee
The House Financial Services Committee approved a strategic Bitcoin reserve bill by 28 votes to 21. It would prohibit the sale or other use of Bitcoin transferred to the reserve for 20 years. The bill still needs to pass both chambers and receive the president’s signature.
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