• Arthur Hayes said on Friday that the Federal Reserve’s rate hike, not crypto legislation, was what lifted Bitcoin this week.

• Grayscale’s head of research called the same hike a mid-cycle adjustment unlikely to move crypto markets.

• Bitcoin traded above $81,000 on Saturday, days after the Senate blocked the CLARITY Act.

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…