Bitcoin Prices Plummet as Senate Prepares to Vote on CLARITY Act

Cryptocurrency prices dropped on Sunday evening as investors awaited a Senate vote on the CLARITY Act, scheduled for Tuesday. Bitcoin's price dipped to an intraday low of $76,367, while Ethereum, XRP, and Dogecoin also declined.

The market saw significant trading volume, with 24-hour trading volume spiking 10% as investors liquidated over $270 million worth of cryptocurrencies, according to Coinglass data. Long position traders bore the brunt of the losses.

Analyst Michaël van de Poppe believes Bitcoin needs to reclaim $78,000 for a potential rally to $90,000 in coming weeks. However, he would buy dips if $78,000 breaks and BTC falls to $74,000.