Bitcoin (BTC) Price: Senate Backs CLARITY Act as Macro Pressures Mount

Key Highlights

• Senate Banking Committee passed the CLARITY Act with bipartisan support (15-9), triggering widespread optimism across crypto social channels.
• Sentiment analysis from Santiment reveals bullish-to-bearish ratio of 1.55:1, though the platform cautions against following crowd psychology.
• BTC trades in the $79K-$80K range, showing a modest 3% gain since the start of May, yet remains down approximately 23% year-over-year.
• The 10-year US Treasury yield climbed above 4.55%, creating downward pressure on Bitcoin and broader risk assets.
• Spot Bitcoin ETFs experienced $290.4 million in net withdrawals on May 15, per CoinCentral data.

Bitcoin continues to consolidate around the $80,000 threshold as competing forces — positive regulatory developments and challenging macroeconomic conditions — create a tug-of-war in the marketplace.

The week’s headline development centers on the Senate Banking Committee’s advancement of the Digital Asset Market Clarity Act, commonly referred to as the CLARITY Act, which passed by a 15-9 margin. The measure received unanimous support from all 13 Republican committee members along with two Democrats, while nine Democrats opposed the bill.

Crypto analytics firm Santiment characterized the social media response as showing “a major spike of euphoria.” According to their metrics, positive commentary about Bitcoin currently outpaces negative sentiment by a ratio of 1.55 to 1.

White House digital asset advisor Patrick Witt offered measured commentary as well. Describing the committee’s decision as “a major step forward,” Witt emphasized via X that “there’s more work to be done before this legislation is ready for prime time.”

Santiment offered additional perspective, suggesting the bill’s passage could attract institutional capital that has remained dormant amid regulatory ambiguity. However, the firm also cautioned that significant cryptocurrency price movements may already be “baked in” ahead of any official legislation signing.

Macro Headwinds: Rising Yields and ETF Withdrawals

The broader financial landscape presents a more nuanced picture. Friday saw the 10-year US Treasury yield push beyond 4.55% — marking its peak since May 2025. Meanwhile, the 30-year bond yield reached 5.12%, a level not witnessed since June 2007.

As bond yields climbed, Bitcoin retreated below the $80,000 threshold during New York trading hours, tracking movements in US equity markets. The S&P 500 similarly surrendered its weekly gains. Bitcoin registered 24-hour losses ranging from 2.43% to 2.68% depending on the data provider.

Investment vehicle flows painted an additional bearish picture for May 15. Bitcoin ETFs collectively experienced $290.4 million in net redemptions. Ethereum ETFs saw $65.7 million in outflows, while Solana ETFs registered neutral activity with zero net movement.

The Crypto Fear & Greed Index registered 31 on Saturday, placing market sentiment firmly in “Fear” territory.

Technical Perspective Remains Constructive for Some

Bitcoin’s 200-day exponential moving average currently stands at $82,941, a technical level that has repeatedly rejected upward price attempts during the recent rally phase.

BTC trades approximately 30% beneath its October 2025 record high. As of this writing, Bitcoin is valued at roughly $79,084, representing a 3.15% increase since the beginning of May.

The post Bitcoin (BTC) Price: Senate Backs CLARITY Act as Macro Pressures Mount appeared first on Blockonomi.