Bitcoin and Crypto Stocks Plummet Ahead of Senate Vote on Clarity Act

Crypto-linked stocks took a hit on Tuesday morning as Bitcoin's value declined ahead of a critical Senate vote on crypto regulation.

The Clarity Act, which aims to create a clearer federal framework for digital assets, is scheduled to be voted on at 2:15 PM ET. The bill needs 60 votes to clear the procedural hurdle and advance in the Senate.

Coinbase Global shares fell 7% to $178, while Strategy (formerly MicroStrategy) slid 5% to $130.32. MARA Holdings dropped a more modest 2% to $11.2.

The Federal Reserve's rate decision on Wednesday is also expected to impact crypto-linked stocks. Analysts framed Tuesday's selloff as a near-term reaction rather than a verdict on crypto's longer-term outlook.