$BTC falls below the 80,000 level immediately when a bill fails in the Senate.
The U.S. Senate moved to procedural voting on the CLARITY Act, a bill that would establish a legal framework for the crypto market. The result was 49 in favor, 50 against—falling short of the 60 votes needed to break a filibuster.
All 50 Democratic lawmakers voted against it, citing a lack of a mechanism to control conflicts of interest related to the president.
Price reacted almost immediately, $BTC dropping from around $79,530 to $75,850—the lowest level since 21/8. $ETH down 3.9%, $SOL down 3%. XRP fell the most, by 7.6%.
With no regulatory framework, exchanges and funds remain stuck in a gray area, so institutional capital is therefore more cautious.
The Fed also added pressure: it is expected to announce interest rates today, the first hike in three years.
The crypto bill is still on the Senate calendar, but the chance of passing comprehensive legislation before 2027 is almost closed.
What to watch: tonight’s Fed meeting results, and whether the supporters of the CLARITY Act have enough votes to reopen the procedure.
Not investment advice. DYOR.
#BTC #Crypto #ClarityAct #CryptoNews #Fed
The U.S. Senate moved to procedural voting on the CLARITY Act, a bill that would establish a legal framework for the crypto market. The result was 49 in favor, 50 against—falling short of the 60 votes needed to break a filibuster.
All 50 Democratic lawmakers voted against it, citing a lack of a mechanism to control conflicts of interest related to the president.
Price reacted almost immediately, $BTC dropping from around $79,530 to $75,850—the lowest level since 21/8. $ETH down 3.9%, $SOL down 3%. XRP fell the most, by 7.6%.
With no regulatory framework, exchanges and funds remain stuck in a gray area, so institutional capital is therefore more cautious.
The Fed also added pressure: it is expected to announce interest rates today, the first hike in three years.
The crypto bill is still on the Senate calendar, but the chance of passing comprehensive legislation before 2027 is almost closed.
What to watch: tonight’s Fed meeting results, and whether the supporters of the CLARITY Act have enough votes to reopen the procedure.
Not investment advice. DYOR.
#BTC #Crypto #ClarityAct #CryptoNews #Fed
