Bitcoin Slumps Below $75K as CLARITY Act Fails Senate Vote
Bitcoin's price has dipped below $75,000, marking its lowest point in September. The setback comes after the CLARITY Act failed to clear the Senate cloture vote 50-49, effectively ending its chances of becoming law this year.
The cryptocurrency was trading at $75,743, down 1.55% in the past 24 hours. Ethereum fell by 3.03% to $2,398, while major altcoins such as BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano corrected up to 8.05%.
Prateek Gupta, Head of Business at Mudrex, stated that Bitcoin has slipped below $75,000 after the CLARITY Act's setback. The historic global bond selloff and US 10-year Treasury yield hitting its highest since 2007 also weighed on the market.
The Fear & Greed Index fell from 81 to 67, indicating a cooling of sentiment in the crypto markets. However, rising realized cap and 30 straight days of short-term holders in profit offer some support.