Bitcoin retreated from Monday's high of $79,000 and is currently trading around $77,800. The U.S. Senate is scheduled to hold a procedural vote on Tuesday on the Digital Asset Market Clarity Act, which aims to delineate regulatory authority over digital assets between the SEC and CFTC. Meanwhile, West Texas Intermediate crude futures rose to approximately $103 per barrel, exacerbating inflation concerns, as the market anticipates the Federal Reserve will raise interest rates by 25 basis points on Wednesday to a target range of 3.75%-4%.