As Bitcoin (BTC) traded above $81,000 on Saturday, Flop Labs CEO Arthur Hayes dismissed the Digital Asset Market Clarity Act (CLARITY Act) as “nonsense” and said crypto needed the Federal Reserve’s rate hike, not the bill.

“See, we didn’t need some nonsense piece of crypto regulation, Clarity Act, just a rate hike that puts more dollars in the hands of rich people to consume more financial assets,” Hayes wrote in a post on X on Friday.

Bitcoin’s price traded at about $81,322, edging up over 3%. The token slipped to the $ 75,000 range on Wednesday, after the bill stalled in the Senate the day before, and has steadily increased since then.

On Stocktwits, the retail sentiment around BTC remained in the ‘bearish’ zone, while chatter…