Senate's CLARITY Act Failure Sends Crypto Prices Plummeting
The U.S. Senate's failure to advance the CLARITY Act has sent shockwaves through the cryptocurrency market, causing Bitcoin (BTC), XRP, and Shiba Inu (SHIB) prices to plummet.
The bill aimed to provide comprehensive regulations for the crypto market but fell short of the 60 votes needed to proceed in a 49-50 procedural vote. This setback has added pressure to an already weak crypto market, leaving regulatory clarity uncertain.
As of September 16, 2026, Bitcoin trades at Rp1,343,352,157 on Pluang, down 3.84% in the past day, while XRP has fallen 13.89% to Rp22,443. Shiba Inu also declined 7.00% to Rp0,0877.
The significant selling pressure is reflected in Pluang order activity, with XRP seeing 71% sell orders and Bitcoin 62% sell orders, highlighting the market's cautious stance following regulatory uncertainties.