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The CLARITY Act passed the Senate Banking Committee, and Bitcoin surged directly to $81K. Honestly, I've seen many "news-driven rallies" like this; in 2017 and 2021, wasn't every good news event a good time to sell?
But this time is a bit different—the shoe of the Federal Reserve Chair change hasn't fully dropped yet. Kevin Warsh is set to officially replace Powell on May 15, and the Senate confirmed him with a 13-11 party-line vote. This is the first time in history that a Federal Reserve Chair nomination was voted on entirely along party lines.