Bitcoin experienced a brief surge of over 3.5% following the US Senate Banking Committee's advancement of the CLARITY Act, before pulling back amid heightened market sentiment and miner sell-offs. The CLARITY Act aims to establish clearer regulatory standards for the crypto industry, which is seen as a long-term positive for reducing investor uncertainty. However, on-chain analytics firm Santiment noted a spike in "greedy" sentiment levels, warning that excessive euphoria often precedes market corrections. Additionally, a recent drop in miner reserves, with approximately 800 BTC sold over four days, has added to short-term downside pressure. As of now, Bitcoin is trading at $79,136, down 2.9% in the last 24 hours.