Bitcoin Bounces Back from CLARITY Act Rejection, Poland Loses $230 Million
Bitcoin's price fluctuated significantly over the past week, dropping below $75,000 after the failure of the CLARITY Act in the US Senate.
The asset had climbed above $79,000 at the start of the week but fell sharply following the bill's defeat, which would have provided clarity on cryptocurrency regulations in the US.
However, Bitcoin soon recovered and rose to $78,000 before stabilizing around $80,000 at the time of writing.
Experts at CryptoQuant noted that while the current rally is insufficiently supported by spot demand, rising trading volumes may indicate a shift towards an early bull phase. However, without sustained spot demand, the market remains uncertain.
In related news, Poland has lost around $230 million due to cryptocurrency-related issues.