Bitcoin Dips as US Clarity Act Fails to Advance

Bitcoin demand in the U.S. has weakened following the Senate's failure to secure the necessary 60 votes to advance the Clarity Act, according to CoinTelegraph.

Coinbase Premium, which measures the price difference between Coinbase and Binance for BTC/USDT, fell to -0.079 on September 15, marking its lowest level in a month. The indicator had briefly turned positive at +0.004 earlier in the week but resumed its downward trend.

The decline followed the Senate's failure to move the Clarity Act back to discussion stage on September 15, with little time left before 2027 for further debate. This has dampened investor sentiment and pressured Bitcoin prices.

On-chain analyst Willy Woo highlighted a divergence in exchange activity since September 6, noting that Binance's cumulative trade volume delta began rising while Coinbase's continued falling. This suggests stronger selling pressure on Coinbase.

Woo stated that the Clarity Act failure has led to increased selling on Coinbase, while global offshore markets continue accumulating on Binance—a trend he views as bullish. Data from CryptoQuant shows short-term wallets (holding less than six months) sent a record 34,000 BTC to exchanges within 24 hours, with 23,200 BTC moving in loss zones—the largest such event in the past month.

While short-term holder profitability metrics had previously reached key levels in 2026 that could signal long-term price shifts, this time the failed vote acted as a near-term demand pressure. Market focus now turns to whether U.S. spot demand recovers and how long exchange supply imbalances persist.