Bitcoin Price Prediction: $100M Liquidated As Traders Brace For CLARITY Vote
Bitcoin is trading at $77,012.38, down 1.1% over 24 hours, fully wiping out its recent pump as markets position ahead of today’s CLARITY Act cloture vote at 2:15 PM ET. More than $100 million in leveraged positions have been liquidated over the past 12 hours as traders de-risk ahead of the Senate vote.
Why Bitcoin Is Selling Off❔
Analyst Michaël van de Poppe said Bitcoin is now looking to sweep recent lows amid a volatile stretch shaped by both the CLARITY Act vote and this week’s FOMC meeting. He said the price action resembles the pattern seen at the end of August, choppy consolidation followed by a sweep of the low before pushing higher again. Van de Poppe said he’d be a buyer on further weakness, calling anything below $75,700 “essentially a steal” for Bitcoin.
The immediate catalyst for today’s dip includes news that Democrats rejected the Republican CLARITY Act draft over ethics language, adding fresh uncertainty just hours before the vote. Even so, institutional demand hasn’t disappeared entirely, Bitcoin ETFs bought $160 million worth on Monday, pushing total assets back above $100 billion.
$BTC
$SAGA
$MINA
#FedRateWatch #US30YTreasuryYieldTops5.40% #ClarityActOddsHalveOnPolymarket #BitcoinPricePredictions #CryptoLearning
Bitcoin is trading at $77,012.38, down 1.1% over 24 hours, fully wiping out its recent pump as markets position ahead of today’s CLARITY Act cloture vote at 2:15 PM ET. More than $100 million in leveraged positions have been liquidated over the past 12 hours as traders de-risk ahead of the Senate vote.
Why Bitcoin Is Selling Off❔
Analyst Michaël van de Poppe said Bitcoin is now looking to sweep recent lows amid a volatile stretch shaped by both the CLARITY Act vote and this week’s FOMC meeting. He said the price action resembles the pattern seen at the end of August, choppy consolidation followed by a sweep of the low before pushing higher again. Van de Poppe said he’d be a buyer on further weakness, calling anything below $75,700 “essentially a steal” for Bitcoin.
The immediate catalyst for today’s dip includes news that Democrats rejected the Republican CLARITY Act draft over ethics language, adding fresh uncertainty just hours before the vote. Even so, institutional demand hasn’t disappeared entirely, Bitcoin ETFs bought $160 million worth on Monday, pushing total assets back above $100 billion.
$BTC
$SAGA
$MINA
#FedRateWatch #US30YTreasuryYieldTops5.40% #ClarityActOddsHalveOnPolymarket #BitcoinPricePredictions #CryptoLearning
