Bitcoin has pulled back toward $77,800 after briefly trading above $79,000, as investors weigh the approaching Senate vote on the CLARITY Act and a renewed increase in oil prices.

Bitcoin was reversing Monday’s gains during Tuesday’s Asian trading session as lawmakers remained locked in last-minute discussions over the proposed crypto market-structure legislation. At the same time, crude prices moved higher again, adding to broader macroeconomic pressure on risk assets.

The largest cryptocurrency by market capitalization fell to around $77,800 after reaching above $79,000 on Monday, according to CoinDesk data. Major altcoins also weakened, with XRP, ether and solana following bitcoin lower. XRP declined to $1.42 from $1.49, although its technical structure continued to indicate a possible bullish golden crossover.

Democrats Push for Further Changes

The latest bitcoin decline followed reports that Democrats were still requesting additional modifications to the Digital Asset Market Clarity Act.

The push for more changes came after President Trump reportedly accepted revised ethics provisions in a Senate draft released by Republicans over the weekend. Republican lawmakers had described the version as a final compromise.

Sen. Cynthia Lummis, the Wyoming Republican who has emerged as one of the bill’s leading supporters, criticized the continued demands from Democrats.

“The Democrats want more,” Lummis said. “They always want more. If we waited another month, they would want more.” Lummis also remarked, “There’s no end to it.”

The Senate is scheduled to vote Tuesday on a procedural measure that would allow the CLARITY Act to advance. The motion requires 60 votes, making Democratic support necessary because Republicans cannot reach the threshold on their own.

The legislation would establish separate regulatory responsibilities for the Securities and Exchange Commission and the Commodity Futures Trading Commission. Supporters argue that the framework would reduce uncertainty surrounding bitcoin and other digital assets in the U.S.

Crypto Industry May Get Clarity Without the Bill

A failed vote may not necessarily prevent the crypto industry from obtaining clearer rules.

Coinbase CEO Brian Armstrong said the SEC and CFTC have indicated they are prepared to pursue regulatory rulemaking independently.

“Frankly, if it doesn’t pass, it’s also going to be a good outcome because the SEC and the CFTC have said that they’re ready to publish rulemaking,” Armstrong said.

He added that the industry could receive regulatory clarity “one way or another” on the day of the vote or within the following couple of days.

Oil Prices Create Another Headwind

Bitcoin was also dealing with pressure from the energy market as West Texas Intermediate crude futures climbed to approximately $103 per barrel after dropping to around $100 overnight.

Rising oil prices can contribute to higher inflation and increase expectations that the Federal Reserve will maintain restrictive monetary conditions.

The central bank is expected to deliver a 25-basis-point rate increase on Wednesday, raising the federal funds target range to 3.75%–4% from 3.50%–3.75%.

Meanwhile, the 10-year Treasury yield was near 5% on Monday. Another rate increase, particularly if Fed officials accompany it with a hawkish outlook, could add to the pressure created by already-high yields. Such an environment has historically been unfavorable for bitcoin and other risk-sensitive assets.