Senate Crypto Bill Markup Delayed By Snowstorm, But May Still Get Hit With Partisan Vote

💡 DMK Insight

So, the political landscape in D.C. is looking pretty grim for this bill, and here’s why that matters: the lack of bipartisan support could lead to increased volatility in markets tied to government spending and fiscal policy. If this bill fails to pass, it might trigger a sell-off in sectors that rely heavily on government contracts or funding, like defense and infrastructure. Traders should keep an eye on related assets, particularly those in the S&P 500 that are sensitive to fiscal changes. But here’s the flip side: if the bill somehow gets through despite the odds, we could see a short-term rally in those same sectors as optimism returns. Watch for key resistance levels in the S&P 500 around recent highs; a break above those could signal a shift in sentiment. For now, monitor the news closely, especially any developments leading up to Thursday, as they could provide actionable insights for day trading strategies or longer-term positions.