Bitcoin and ethereum prices today, Wednesday, September 16, 2026: Crypto prices tank after CLARITY Act fails and ahead of Fed decision

Bitcoin and Ethereum prices experienced a decline on Wednesday, September 16, 2026. Bitcoin opened at $75,586.51, a drop of 3.3% from Tuesday, before rising to $75,885.53. Ethereum opened at $2,397.64, down 4.6% from Tuesday's opening. This morning's prices are significantly lower than those from the previous day, following the failure of the CLARITY Act in the U.S. Senate and anticipation of a potential Federal Reserve interest rate hike.

The CLARITY Act, which aimed to provide clearer regulations for digital assets, fell short of the 60 votes needed to pass in the Senate. Notable figures, including Galaxy Digital CEO Mike Novogratz and former President Donald Trump, expressed concerns over the Act's failure, with Novogratz highlighting the hard-fought compromise that fell apart on the ethics issue.

The price of Bitcoin is currently 3.3% lower than Tuesday's opening, while Ethereum is 4.6% lower. Crypto taxes are reported on tax returns for the year in which transactions occurred, with tax rates depending on the holding period.