Crypto Daily｜Copper Gold Ratio Repeats Bitcoin’s 2020 Signal; Coinbase CEO Backs CLARITY Act Ahead Of Key Senate Vote

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US CLARITY Act Secures 13 Republican Votes to Pass Senate Banking Committee

The U.S. CLARITY Act has secured the 13 Republican votes required to pass the Senate Banking Committee, marking a significant milestone in the push for federal cryptocurrency regulation. Senator John Kennedy, who had been viewed as the only potential holdout among Republican members, has confirmed he will vote in favor, guaranteeing the bill’s advancement regardless of Democratic support.

Coinbase CEO Backs CLARITY Act Ahead of Key Senate Vote

Coinbase CEO Brian Armstrong has expressed strong support for the latest iteration of the Digital Asset Market Clarity Act (CLARITY Act), calling it "closer than ever" to becoming law. The U.S. Senate Banking Committee is set to hold a crucial markup vote on the legislation on May 14, 2026, following months of contentious negotiations between the crypto industry and banking sector.

Copper gold ratio repeats Bitcoin’s 2020 signal

The copper gold ratio has broken above its 200-day moving average for the first meaningful time since September 2020.

The copper gold ratio is a closely watched macro signal measuring the relative strength of copper, an industrial metal tied to economic expansion, against gold, which traditionally rises during risk-off conditions.

A rising ratio signals improving global risk appetite, and the current reading of 0.00142 represents a 25% climb from the ratio’s recent lows, according to market analysis tracking both assets.

Bitcoin & Ethereum Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Wednesday was $350.54 million. The total net asset value of Bitcoin spot ETFs is $106.33 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.61%.

The Bitcoin spot ETF with the highest net outflow on May 13 was ARK 21Shares Bitcoin ETF with a net outflow of $177.1 million, according to SoSoValue.