📢 Crypto Market Quick Update: CLARITY Act Stalls, Wiping Out $600M!
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The crypto market took a hit after the US Senate failed to advance the CLARITY Act regulatory bill (49-50 vote). Over $600 million was liquidated in 24 hours, driven mostly by long positions.
Here is the quick technical breakdown for top coins:
🪙 Bitcoin (BTC): Trading around $75,000–$75,500 after a 3% drop. Despite the dip, BTC maintains an underlying bullish structure as it holds above its 50-day and 200-day EMAs. Immediate Support: $75,233 | Initial Resistance: $82,850.
🥧 Pi Network (PI): Facing intense selling pressure, down 5% today following a 7% drop yesterday. The trend is strictly bearish as the price sits well below the 50, 100, and 200-day EMAs. Immediate Support: $0.0819.
💉 Injective (INJ): Hovering around $5.37 after a sharp 13% drop yesterday. However, its mid-term uptrend remains intact since it is still trading above key 50-day and 200-day EMAs. Key Barrier: $6.43.
📊 Market Sentiment: The Crypto Fear and Greed Index dropped from 71 last week down to 63, signaling a reduction in risk appetite among investors.
📉
The crypto market took a hit after the US Senate failed to advance the CLARITY Act regulatory bill (49-50 vote). Over $600 million was liquidated in 24 hours, driven mostly by long positions.
Here is the quick technical breakdown for top coins:
🪙 Bitcoin (BTC): Trading around $75,000–$75,500 after a 3% drop. Despite the dip, BTC maintains an underlying bullish structure as it holds above its 50-day and 200-day EMAs. Immediate Support: $75,233 | Initial Resistance: $82,850.
🥧 Pi Network (PI): Facing intense selling pressure, down 5% today following a 7% drop yesterday. The trend is strictly bearish as the price sits well below the 50, 100, and 200-day EMAs. Immediate Support: $0.0819.
💉 Injective (INJ): Hovering around $5.37 after a sharp 13% drop yesterday. However, its mid-term uptrend remains intact since it is still trading above key 50-day and 200-day EMAs. Key Barrier: $6.43.
📊 Market Sentiment: The Crypto Fear and Greed Index dropped from 71 last week down to 63, signaling a reduction in risk appetite among investors.
