Is Bitcoin’s September review coming? Can CLARITY pass the test? Will the Federal Reserve raise interest rates? Why did Circle build its own Arc public chain?

Original author：Actually You Know

Original source：https://www.youtube.com/embed/_sCEdf4gtbo

In mid-September, the currency circle will usher in three major events simultaneously within 48 hours: CLARITY’s key vote, the Federal Reserve’s interest rate discussion, and the Circle Arc mainnet launch. These three things seem to belong to three directions: one is supervision, one is interest rate, and the other is the new stable currency chain. But taken together, they are actually answering the same question: Where are the real variables in the next stage of the encryption market? The CLARITY Act is related to whether the United States will provide a more stable regulatory path for businesses such as token issuance, encryption transactions, RWA, and on-chain derivatives. If the rules become clearer, crypto businesses that have remained in the offshore market for a long time in the past may be brought back to the United States. The Fed's interest rate discussions determine another thing: the price of money. What the market is really concerned about is not just whether interest rates will be raised this time, but whether U.S. dollar liquidity will tighten again. If money continues to become more expensive, the valuation logic of both Bitcoin and risk assets will be recalculated. The Circle Arc mainnet is online. It looks like a new chain, but behind it is actually Circle’s second growth curve. USDC cannot always make money just by relying on interest on reserve assets. What Arc wants to do is to extend stablecoins into cross-border payments, foreign exchange, on-chain settlement and financial infrastructure. So in this video, we are not just looking at whether mid-September will bring market fluctuations, but also looking at three lower-level issues: - How much legal space is the United States willing to open to the crypto market? - Will global funds become more expensive or cheaper next? - Can stablecoin companies move from “issuing digital dollars” to “operating digital dollar networks”? These three things may not necessarily determine whether the market is bullish or bearish immediately, but they are likely to affect the direction of the currency circle in the next 3 to 5 years.