Bitcoin Price Teeters as Institutional Selling Pressure Rises

The Bitcoin price has been trading near $64,000 after losing about 2% in the past 24 hours. The decline pushed Bitcoin to critical support at $60,000 and resistance near $70,000.

The market is currently down 1.37% to $2.19T in 24h, largely driven by institutional selling pressure on Bitcoin.

The Clarity Act decision is expected on September 15, which could bring more transparent regulation of cryptocurrencies and stipulate roles between federal regulators.

However, the legislators are still torn between ethical provisions, decentralized finance protections, and banking issues.