Oil prices and the CLARITY Act are the two big topics today. The current spread between spot and futures prices for oil mainly reflects the market's expectation that the Fed's rate hike might slightly suppress oil prices. However, this effect likely won't last long unless the Fed takes a very hawkish stance in the dot plot and the post-meeting press conference. In that case, oil prices might drop a bit more. But even if the Fed raises rates, it won't solve the Hormuz issue. As for the CLARITY Act, it's a pity it didn't reach the 60 votes needed. It fell short by at least 10 votes, and even the Republican Party isn't unified on this, let alone needing bipartisan support. The chances of it passing by 2026 are now very slim. However, based on the voting results, it seems the Democratic Party isn't strongly opposed to crypto. The biggest opposition is related to the restrictions on the president's authority in the crypto space, which likely won't be an issue for Trump in the future. Earlier, I couldn't quite figure out the reason behind Bitcoin's price increase. Some friends pointed out it might be due to the CLARITY Act, but I don't think that's the case. We already know it didn't pass this time, yet bitcoin:native is still holding steady around $76,000. Even though it briefly dipped below $75,000, it bounced back a bit. So, I don't think the CLARITY Act is the main reason. Once today is over, it's time for the Fed's interest rate decision early Thursday morning. Although I still believe the Fed shouldn't raise rates, I'm probably wrong. Honestly, raising rates now might not do much to help with inflation. If the Hormuz issue isn't resolved, the inflation data for September and October will likely look terrible. Even with more rate hikes, it won't fix the problem. @Gate Crypto, US stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all in one place for trading.