Clarity moving up to 32% is definitely positive for crypto, but I still think the Fed has more control over the short-term $BTC move. Regulatory clarity helps the long game. It gives exchanges, institutions and projects a clearer framework, which can bring more capital into the space over time. But a Fed hike hits liquidity immediately. Higher rates usually mean tighter financial conditions, stronger yields and less appetite for risk. That can overpower good crypto regulation in the short term. So if both happen together, I would expect a mixed reaction. $BTC could benefit from the Clarity narrative, but still struggle if the market starts pricing in tighter monetary policy. For me, Clarity is bullish structurally. The Fed decides whether that bullishness gets expressed now or later. If regulation improves while monetary conditions also ease, that is when the setup gets much more powerful.