Bitcoin Price Plunges 6% Amid Regulatory Uncertainty
The Bitcoin price plummeted by 6% over the past day after reaching a high of $79,419 on Tuesday. The drop saw the cryptocurrency's value fall to $74,910 before recovering some losses to trade at $75,796 as of Wednesday morning.
The decline is part of a broader trend for Bitcoin, which has lost 34.2% since last year and 40% from its all-time high of $126,198 reached in October 2025.
Ethereum, the world's second-largest cryptocurrency by market cap, also fell by 8.2% to trade at $2,399 after reaching a high of $2,598 on Tuesday.
The Bitcoin price is under pressure due to several factors, including the failure of the Clarity Act to pass in the US Senate. The bill aimed to give regulatory oversight to crypto trading in US stock markets but was stalled due to a lack of votes.
Commenting on the impact, Ayesha Kiani, chief operating officer at Monarq Asset Management, said that the failure prolongs a regulatory gap that has real consequences for companies and capital deployment.