The Nasdaq is under pressure, the Fed's rate hike probability this week is close to 90%, and last week BTC ETFs saw another net outflow of $463 million. Yet, BTC is showing strength, with COIN and CRCL rising against the trend. Clearly, funds have started trading on the narrative of a potential shift in U.S. crypto regulation. The latest Republican version includes 126 substantive amendments requested by Democrats in one go, and Polymarket has adjusted the pricing for CLARITY passing this year from around 22% to about 32%. Now it all depends on whether the vote can reach 60. If Democrats don't compromise with Republicans, tonight's CLARITY premium could easily be wiped out.