The institutional appetite for Bitcoin in the United States suffers a new setback after the recent legislative defeat in the Senate with the CLARITY law. The Coinbase Premium indicator has fallen to a one-month low, reflecting a contraction in local spot demand and an increase in the sending of BTC to exchanges with unrealized losses. This behavior suggests greater caution among North American investors amid current regulatory uncertainty. What to watch now? Net flows on major exchanges and the defense of key supports by the $BTC price. Keeping a macro perspective is vital to navigate this phase of volatility. 📉📊 #Bitcoin #Regulacion #MercadoCripto $BTC $ETH