In early trading on Wednesday, Bitcoin prices rose 1% to $91,800.47 at the time of writing, according to CoinMarketCap data, while Ethereum gained 1.9% to $3,094.72 and BNB was up 2.2% to $931.05.According to SoSoValue data, spot Bitcoin ETFs logged outflows of $377.2 million on Tuesday.Spot Ethereum ETFs also saw outflows of $74.22 million on Tuesday.Tim Scott told Fox Business on Tuesday that the Senate Banking Committee has been negotiating with Democrats to reach a deal.
Spot Bitcoin exchange-traded funds logged another day of outflows on Tuesday, despite a 24-hour rally in cryptocurrency prices.
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In early trading on Wednesday, Bitcoin prices rose 1% to $91,800.47 at the time of writing, according to CoinMarketCap data, while Ethereum gained 1.9% to $3,094.72 and BNB was up 2.2% to $931.05. Among other tokens, Solana gained 2.6%, and Dogecoin fell 2.1%.
Bitcoin, Ethereum ETFs Continue To Bleed
According to SoSoValue data, spot Bitcoin ETFs logged outflows of $377.2 million on Tuesday, marking the fifth consecutive session of outflows. Spot Bitcoin ETFs have recorded outflows for three consecutive weeks. Spot Ethereum ETFs also saw outflows of $74.22 million on Tuesday.
However, several cryptocurrency ETFs are expected to begin trading by the end of the year, despite the near-term uncertainty. 21Shares is gearing up for the launch of its newest spot Solana ETF today, after the final prospectus filing with the U.S. Securities and Exchange Commission.
Fed Rates Uncertainty
The recent declines in cryptocurrency markets have followed rising investor concerns that the U.S. Federal Reserve might not lower interest rates at its next policymakers’ meeting on December 9-10, as Fed officials remain cautious about a spike in inflation. On Monday, the U.S. central bank’s vice chair, Philip Jefferson, said that while he believed that there was risk to the job market, the Fed should still “proceed slowly” with any further rate cuts, joining colleagues who had made similar skeptical remarks last week.
Markets are now awaiting the long-delayed September nonfarm payrolls due on Thursday after the federal government shutdown prevented the release of new data.
Adding to the uncertainty, U.S. President Donald Trump said on Tuesday that he has already earmarked the next Federal Reserve Chair after incumbent Jerome Powell steps down next year. “I think I already know my choice,” Trump stated on Tuesday, without specifying who the candidate was. “I’d love to get the guy currently in there out right now, but people are holding me back.”
What Are Stocktwits Users Thinking?
Retail sentiment on Stocktwits about Bitcoin was in the ‘bearish’ territory, compared with ‘extremely bearish’ a day ago.
CLARITY Act Could Become A Reality In Early 2026
Senate Banking Committee Chair Tim Scott said on Tuesday he hoped to mark up a bill on crypto market structure in December, sending it to President Donald Trump by early next year.
Scott told Fox Business on Tuesday that the banking committee has been in talks with Democrats to negotiate a deal, but blamed the senators of stalling.
“Next month, we believe we can mark up in both committees and get this to the floor of the Senate early next year so that President Trump will sign the legislation making America the crypto capital of the world,” Scott said.
The bill, known as “CLARITY”, has already passed the House and needs the support of at least 7 Democratic Senators to pass the Senate after tweaks.
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