Why Bitcoin Can't Hold $64,000: A Bearish EMA Stack and a Dying Senate Bill

Institutional flows turned negative the same week the CLARITY Act's odds started falling — here's the September calendar that decides which one breaks first.

Bearish EMA alignment across every major timeframe meets a closing legislative window:

the Senate’s crypto market-structure bill and the Fed’s September meeting arrive in the exact same five-day block, and both macro catalysts are breaking against risk assets.

Bitcoin closed Friday, August 14, near $63,000 — comfortably below every moving average that ma…