Bitcoin clawed back above $81,000 on Wednesday, finding a foothold near the psychological $80,000 mark after a rough Tuesday. But the rebound comes with a warning: US-listed spot Bitcoin ETFs bled $233.25 million in outflows that same day, reversing the modest $27.29 million inflow from Monday. The real focus now is on Thursday, when the Senate Banking Committee is set to vote on the Clarity Act — a bill that could reshape the regulatory landscape for digital assets.
ETF outflows resume after one-day reprieve
Tuesday's $233 million exodus is the largest single-day outflow from spot Bitcoin ETFs in weeks. It erased the prior day's inflow and then some. The market had been hoping for a sustained recovery in institutional interest after a shaky April. Instead, the data suggests caution still dominates among big money managers. One day of green didn't flip the script.
What the Clarity Act vote means
All eyes are on the Senate Banking Committee's Thursday markup of the Clarity Act. The legislation aims to provide a federal framework for crypto classification and exchange oversight — something the industry has been asking for since the last regulatory crackdown. A favorable committee vote would send the bill to the full Senate floor. A no-vote or a delay would leave the sector in its current patchwork state. The timing isn't great: markets hate uncertainty, and right now there's plenty of it.
Technical levels to watch
On the charts, Bitcoin is bumping up against the 200-day exponential moving average near $82,000 — a level that's acted as resistance all week. If that holds, the path down could retest $80,000, then the 50% retracement at $78,960, and further to the 100-day and 50-day EMAs around $76,730 and $76,420. On the upside, a clean break above $84,410 would open the door to a run at the January peak near $97,925. The daily RSI sits around 61 — solid momentum, not yet overbought. The MACD is slightly negative, but that's a sign of moderating pressure, not a reversal signal yet.
What happens Thursday
The Senate Banking Committee vote is scheduled for the morning. If the Clarity Act advances, expect a short-term relief rally — or at least a reason for bulls to step in. If it stalls, those ETF outflows could get worse before they get better. Either way, Thursday's outcome will set the tone for the rest of May.
