Bitcoin drops 3.3% overnight

Bitcoin opened at $75,586.51 on Wednesday, September 16, 2026, down 3.3% from Tuesday's opening. It recovered slightly to $75,885.53 by 7:12 a.m. ET.

Ethereum falls 4.6% in morning trading

Ethereum opened at $2,397.64 on Wednesday, down 4.6% from Tuesday's opening price. The price moved up to $2,404.43 by 7:12 a.m. ET.

CLARITY Act fails Senate vote

The Digital Asset Market CLARITY Act fell short of the required 60 votes in a procedural Senate vote on Tuesday. The bill aimed to establish a regulatory framework for the crypto industry.

“Govt feels broken. 18 months of work between our industry, Democrats, and Republicans, and Clarity falls apart on the 5-yard line.”

Ethics concerns derailed the deal

Senate Democrats blocked the bill over government ethics provisions and presidential conflicts of interest. Republicans opposed limits on a president's ability to profit from digital assets.

Fed rate hike expected today

The Federal Reserve is expected to raise interest rates later on Wednesday, September 16. This would be the first rate increase in three years.

Bitcoin down 34.5% year-over-year

Bitcoin is down 34.5% compared to one year ago, though it's up 19.9% over the past month. The all-time high was $126,198.07 on October 6, 2025.

Ethereum down 47% year-over-year

Ethereum has fallen 47% over the past year but gained 27.5% in the last month. Its all-time high was $4,953.73 on August 24, 2025.

Crypto sales trigger tax events

You owe taxes when you sell cryptocurrency for profit or exchange one digital asset for another. Holding periods matter: less than a year means higher tax rates, while longer holds get lower rates.

Timing can save thousands on taxes

The difference between holding crypto for less than a year versus longer can result in tax rate differences of 17% or more. A few days can make a significant financial difference.