Crypto Prices Plummet Amid Clarity Act Vote and Rate Hike Uncertainty

Cryptocurrency prices are down today as investors await the Senate's vote on the Clarity Act, which is scheduled for this afternoon. The looming Federal Reserve decision on interest rates, due tomorrow, has also fueled risk aversion in the market.

The top 10 non-stablecoin cryptocurrencies are showing mostly losses, with only one trading in positive territory overnight. Bitcoin traded between $75,690.80 and $78,246.40 over the past 24 hours.

Markets expect the Federal Reserve to raise rates by a quarter percentage point tomorrow, as indicated by the CME FedWatch tool's 92.7% likelihood of a rate hike.