September 15th could become a decisive day for the crypto market with the simultaneous holding of the FOMC meeting and the CLARITY Act vote. Rate hike expectations have surged to nearly 60%, up 46% in just one week, fueling concerns of volatility for bitcoin and the broader sector. Bitcoin’s Coinbase Premium Index has turned negative again and ETF flows have shown net outflows, suggesting a bearish reversal after the strong August close. The XAU/BTC ratio is approaching a critical support level on the weekly chart, whose break could trigger capital rotation into gold and add further pressure on bitcoin. These multiple macroeconomic and regulatory catalysts could determine the crypto market trend for the remainder of the third quarter.
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