Bitcoin Slumps 5.3% as Senate Blocks Crypto Bill

The US Senate's failure to pass a wide-reaching crypto regulatory bill sent shockwaves through digital assets, causing Bitcoin to plummet by as much as 5.3% to $74,910 on September 15.

This decline marked the largest intraday drop for Bitcoin since June, and it was not alone in its losses, with Ether falling more than 8% at one point.

Smaller tokens also took a hit, losing even more percentage-wise, as the industry struggles to find stability amidst rising interest rates and swelling anxiety in markets.