Investors in the US are reacting to the CLARITY Act failing to pass in the Senate by increasing demand for Bitcoin (BTC).
The following are key points.
- Bitcoin’s Coinbase Premium Index declined to a level of -0.079, the lowest since August 16
- The CLARITY Act, which was a bill to regulate the US stock exchanges but failed in the Senate, diverted the US’s sell-side from the other major exchanges.
- The short-term investors sent 34,000 BTC in the last day to exchanges, possibly for loss. It is the biggest inflow of a whole month.
The Analyst Sees “bullish” Signal as Coinbase sales diverge from Binance
Senators failed to give CLARITY After securing the 60 required votes, only a small number of options remain to return the important crypto-legislation back into the discussion stage by 2027. Bitcoin was under pressure after the announcement, as US demand suffered. Data from Onchain Analytics Platform CryptoQuant Coinbase Premium fell to an all-time low of 0.079 cents on Tuesday.
Coinbase Premium (which measures the price difference between Binance and Coinbase BTC/USDT) briefly went positive to start the week at 0.004 but then fell further over Monday. It is currently at its lowest since August 16 when BTC/USD trades around $63,000.
Bitcoin Coinbase Premium Index. Source: CryptoQuant
Negative Coinbase Premiums indicate a relative lack of Coinbase users compared with Binance users. The premium has decreased. spent much of 2026 in the redBitcoin’s recent all-time peak of $126.200 in October 2025 has been surpassed by a fall of over 50%.
Willy Woo responded by pointing out that Coinbase’s seller behavior differed from non-US exchanges around the voting.
Woo has produced a graph of cumulative volumedelta (CVD) by exchange denominated as BTC from Sept. 6, 2016. CVD calculates the difference in net seller and buyer volume for one candle. The data from each candle is added to the overall total. Binance CVD started to rise around Sept. 11 as the sellers remained in charge. Coinbase CVD continued to drop.
“I see the US selling with the failed Clarity Act (on Coinbase) Meanwhile the more dominant global offshore continues accumulating (on Binance),” Woo wrote In a posting on X, describing a scenario as “bullish.”
BTC/USD graph with CVD data. Source: Willy Woo X.com
BTC holders who are short-term send BTC back to exchanges as a result of unrealized losses
CryptoQuant also showed that most of the selling reactions resulting from CLARITY’s failure were from Bitcoin newcomers.
Related: CLARITY Act vote meets Fed rate hike: Five things to know in Bitcoin this week
The STHs, wallets with an UTXO (unspent transaction output) that has been held for fewer than six months have sent up to 34000 BTC on a 24 hour rolling basis. Most of these coins have been transferred from onchain to exchanges for a cheaper price.
“With 23 200 BTC sent to exchanges at a loss, this STH capitulation event is the largest recorded over the past month,” CryptoQuant reported Blog posts are a great way to share your thoughts.
Bitcoin STH 24 hour profit and Loss to Exchanges (screenshot). Source: CryptoQuant
Previously, Cointelegraph reported STH had unrealized profitability reached a major milestone by 2026. It could boost the probability of long-term BTC trend changes.
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Source: cointelegraph.com
