Bitcoin may be more vulnerable to a second Federal Reserve rate increase than to the Senate’s failed procedural vote on the Digital Asset Market Clarity Act, according to Tim Sun, senior researcher at HashKey Group. The Federal Reserve raised its benchmark target range by 25 basis points to 3.75%-4.00% on Sep. 16, with all 12 voting members supporting the decision. Sun said the move was largely anticipated and helped Bitcoin rally, but another increase at the October meeting could cause investors to view September as the beginning of a tightening cycle rather than a one-time preventive action. That shift could weaken Bitcoin’s upward momentum by lifting long-term Treasury yields and tightening dollar liquidity, while changes in U.S. spot Bitcoin ETF flows and derivatives leverage could amplify market moves. The Fed’s projections put the median year-end policy rate at 4.1% for 2026 and 2027, compared with June forecasts of 3.8% and 3.6%, respectively. Bitcoin initially approached $75,000 after the September decision before returning to roughly $76,000-$76,700, then later retreated from the $87,000 area. The Senate’s Sep. 15 vote was 49-50 against ending debate on a motion to take up CLARITY, which required 60 votes; lawmakers did not vote on final passage. Sun said the bill would mainly clarify the division of oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission, rather than alter Bitcoin’s characteristics or regulatory position. A prolonged delay could nevertheless affect long-term investment in crypto companies and infrastructure projects. U.S. spot Bitcoin ETFs recorded five straight sessions of net inflows through Sep. 23, including about $6.1 million during the week ended Sep. 18 and $433 million on the final trading day.