Crypto
Bitcoin Price Drops Amid CLARITY Act Rejection and Fed Decision
The price of Bitcoin has slipped to near USD 75,810 after the Senate failed to advance the CLARITY Act in its cloture vote. The bill's failure and a global bond selloff have put pressure on risk assets, leading to a decline in crypto-linked equities.
Ethereum, XRP, and Solana all traded lower through the session, with XRP experiencing the sharpest drop at 8%. Total market capitalization sits near USD 2.63 trillion.
More than USD 600 million in leveraged positions were liquidated over 24 hours, with long liquidations alone accounting for close to USD 100 million of that total.
The Federal Reserve's policy statement later today remains the market's single largest near-term trigger, with a 92.4% probability of a 25 basis point hike priced in.