Bitcoin Plunges Below $76k as Clarity Act Fails to Advance

Bitcoin dropped below $76,000 as Ethereum struggled to hold key levels after the Senate failed to advance the CLARITY Act and the Federal Reserve raised interest rates by 25 basis points.

Cryptocurrency market analyst Ray Salmond argued that the legislative 'setback' is unlikely to derail crypto's broader growth and adoption. He believes regulators will continue moving forward regardless of whether the Clarity Act returns next year or later, which could keep Wall Street's crypto expansion moving.

Salmond expects firms like BlackRock, ARK Invest, and Fidelity to lean further into potential SEC frameworks for tokenization, paving the way for more tokenized securities, 24-hour trading, and deeper integration between traditional financial markets and crypto platforms.