Crypto
US Senate Fails to Advance Clarity Bill, Bitcoin Prices Plummet
The US Senate failed to secure necessary votes to advance the 'Clarity Bill', which aimed to regulate crypto assets and integrate them into the mainstream financial system.
As a result, Bitcoin prices declined, briefly falling below $75,000. The drop was sharp, with some related companies' shares plummeting by over 10%.
The Bank for International Settlements (BIS) has warned that on-chain data deviates sixfold and market capitalization is inflated fourfold due to estimation biases in Bitcoin transfers.
Crypto Longs worth $570 million were wiped out, according to research by CoinDesk. Ethereum and TRON exhibit different stablecoin usage patterns, while Visa has introduced adjusted metrics to correct for noise such as high-frequency trading.