Bitcoin Stuck at $78,000 as CLARITY Act Vote, FOMC Meeting Loom as Catalysts

Bitcoin (CRYPTO: BTC) slipped to $76,600 over the weekend as traders await a breakout above $83,000 or another pullback in light of this week’s CLARITY Act procedural vote and FOMC meeting.

Why Is $83,000 the Key Hurdle?

Doctor Profit remained bullish on Bitcoin’s broader recovery in his "Big Sunday Report" but cautioned that it is yet to reclaim the 50-week moving average for confirming the next leg higher.

"I am not going to call a breakout confirmed while the resistance is still standing," the analyst said.

The trader compared Bitcoin’s current structure with its early-2023 recovery, when BTC made several attempts to clear its 50-week MA before eventually breaking higher.

The comparison does not mean Bitcoin will repeat the same path but suggests repeated rejection from a major moving average does not necessarily invalidate the broader recovery.

Doctor Profit sees two possible paths:

• A decisive break above $83,000 would strengthen the bullish structure and put $88,000 in focus.
• A pullback toward $71,000 remains possible and is viewed as the strongest support and a potential long-entry area.

The analyst continues holding spot positions rather than trying to predict whether BTC dips first.

Clarity Act, Fed Decision Places BTC On Watch

Bitcoin also faces a packed macro calendar.

The Sept. 15 CLARITY Act vote is a procedural 60-vote hurdle, not final passage for the crypto legislation. while the Sept. 16 Fed decision is another key event.

Markets are pricing an 85.5% probability of a quarter-point rate hike, versus a 14.5% chance of unchanged rates.

The analyst believes much of the event risk is already reflected in markets and he would prefer the Fed leaves rates unchanged.

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