Bitcoin Prices Plummet Ahead of Crucial Clarity Act Vote

BTC dropped to US$76,452 before recovering slightly to around US$77,526 on Monday morning, marking a weekly loss of 2.6%.

The price correction comes ahead of a September 15 procedural vote on the Clarity Act, which would require crypto trading protocols controlled by identifiable individuals or groups to register with the Commodity Futures Trading Commission (CFTC) and comply with anti-money-laundering requirements.

CryptoQuant's head of research, Julio Moreno, says that despite the current downtrend, Bitcoin remains in a constructive trend but must break US$81,700 for a bull market to be confirmed.