Clarity Act markup leaves bitcoin unstirred

Your day-ahead look for May 14, 2026 What to know : The Senate is set to mark up the U.S. Clarity Act, a sweeping digital-asset bill that would ban interest on stablecoin balances, impose penalties up to $5 million and add the Treasury as a key rule-making authority alongside the SEC and CFTC. Despite the bill’s high stakes and more than 100 proposed amendments, bitcoin options markets show historically low implied volatility and little pricing of event risk. Technical signals suggest bitcoin’s latest recovery has ended after breaking an April uptrend line near the 200-day moving average, raising the risk of momentum-driven selling toward $75,000.