Crypto Market Dives as CLARITY Act Fails Senate Hurdle

The cryptocurrency market reacted negatively to news that the CLARITY Act failed to clear the Senate's 60-vote threshold, sending Bitcoin below $76K.

This development had a ripple effect across the market, with Ethereum (native) falling 4% to $2.3K and Ripple (native) dropping 8% to $1.30. Dogecoin (native) also slipped 3.5% to $0.80.

The failed legislation has led to a surge in liquidations, with over 117,410 traders being affected, totaling $659.08M in the past 24 hours.