Crypto
Bitcoin ETFs Suffer Heavy Outflow After Senate Rejects CLARITY Act
The U.S. spot Bitcoin ETFs saw a significant net outflow of $450.4 million on Tuesday, following the Senate's failure to advance the CLARITY Act.
This outflow is considered the heaviest single-day withdrawal since June 25 and erases Monday's $159.9 million inflow.
CoinDesk reported that Bitcoin was trading at $75,679 on Tuesday, slightly changed from midnight UTC but 8% below its September 4 high.
The Senate's procedural vote led to forced deleveraging in the market, with leveraged futures positions worth more than $570 million being liquidated over the past 24 hours.