Bitcoin Price Dips Below $78K Amid US Clarity Act Uncertainty
Bitcoin's price fell below $78,000 as uncertainty over the US Digital Asset Market Clarity Act weighed on investors. The Senate is set to vote on the bill, which aims to clarify crypto regulation between the SEC and CFTC, but faces delays due to ongoing political negotiations.
Rising crude oil prices and an expected Federal Reserve rate hike are also increasing inflation concerns, putting additional pressure on Bitcoin and other risk assets. The Fed is expected to raise rates by 25 basis points.
Despite the dip, Pluang data shows Bitcoin holding steady with a market cap of Rp27.503,91 trillion and a 24-hour trading volume of Rp505,5 trillion. The platform's order activity is slightly tilted towards selling at 52%, reflecting cautious sentiment among traders.