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CLARITY Act Passes Committee, PPI Kills the Rally | May 16
Audio is available on Spreaker — see link below.
Bitcoin surged to $82K on the CLARITY Act's 15-9 Senate committee vote — then a 6% PPI print erased most of the move. Today's episode breaks apart the regulatory signal, the macro headwind, ETF rotation data, and what declining exchange reserves are actually telling you.
Audio is available on Spreaker — see link below.
The US Senate Banking Committee approved the CLARITY Act on May fourteenth. Bitcoin hit eighty-two thousand dollars.
The retreat to seventy-nine thousand and change is where it gets more complicated. Producer price inflation came in at six percent.
Now to the institutional layer, because this is where the signal gets genuinely interesting. On the surface, Fidelity's FBTC posted thirty-nine point six million dollars in outflows on May sixteenth.
One more data point worth holding onto. Bitcoin exchange reserves continued declining through this period.
The CLARITY Act still needs sixty Senate votes to pass. It then needs House reconciliation.
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