Crypto is outperforming broader markets as optimism builds around the U.S. Digital Asset Market Clarity Act, while concerns over a potential slowdown in AI development weigh on technology stocks.
The odds of the Clarity Act, which is intended to define a federal regulatory framework for digital assets, being signed into law in 2026 have climbed to around 30% on Polymarket, up from a low of 12% at the start of September. The bill faces a procedural Senate vote on Tuesday.
The prospect of progress on crypto regulation appears to be supporting sentiment. Bitcoin BTC$77,737.10 is up more than 1% over the past 24 hours at $77,800, while ether ETH$2,511.60 has gained 2% to $2,500.
Meanwhile, AI and technology stocks are selling off after Anthropic CEO Dario Amodei called over the weekend for a slower pace of frontier AI development, citing safety concerns. OpenAI CEO Sam Altman and Elon Musk backed the call for greater caution, even as Anthropic reportedly selected Nasdaq for its anticipated IPO.
The potential implications extend across the AI supply chain. A slower pace of model development could delay orders for advanced chips and reduce the urgency to secure additional computing capacity, weighing on growth expectations for specialist cloud providers and data center operators.
Companies committing billions to infrastructure could face longer waits for revenue, leaving investors questioning how quickly those investments will pay off. A slowdown would not necessarily reduce existing demand, but could challenge valuations built on expectations of relentless expansion.
CoreWeave (CRWV) and Cipher Digital (CIFR) fell 6% in premarket trading, while MARA Holdings (MARA) dropped 5% and IREN (IREN) lost 4%.
Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead."
What’s trending
- Bitcoin bucks tech selloff as AI safety concerns weigh on stocks (CoinDesk): Bitcoin rose above $77,000 as calls to slow AI development hit technology shares, while rising oil prices added to market pressure.
- Crypto's Clarity Act is a Schrödinger's cat in life-death limbo as U.S. Senate returns (CoinDesk): As the U.S. Senate Sept. 15 cloture vote on the Clarity Act approaches, approval remains up in the air. There’s a chance the bill might reemerge inside another bill or be lost in legislative limbo for years.
- Gold falls on growing Fed rate hike bets ahead of policy meeting (Reuters): Gold prices slipped as expectations of a Federal Reserve interest-rate increase this week strengthened after hot inflation data and rising oil prices. The dollar firmed at an over one-week high.
- Global shares mostly decline and AI stocks plunge after calls to slow AI industry (AP): Global shares were mostly lower Monday as AI-related stocks, including Open AI investor SoftBank, fell. U.S. futures edged lower, while oil prices gained more than 2% as worries grew over global oil supplies after Saudi Arabia shut a major oil pipeline after it was attacked.