Crypto Market Reels After CLARITY Act Vote: Bitcoin, Ethereum, XRP in Focus

The crypto market took a hit after the Senate's failed vote on the CLARITY Act. Bitcoin (BTC) fell nearly 4% to $76,000, Ethereum (ETH) dropped over 6% to $2,400, and XRP plummeted even further.

The Fed's upcoming rate decision on September 16 is now in focus, with markets expecting a 25-basis-point hike. This could put additional pressure on Treasury yields and make it harder for BTC to recover the $80,000 level.

Ethereum faces its own challenges as it tries to reclaim the $2,400-$2,500 region. XRP has taken the hardest hit, with a sharp decline following the Senate vote.