Bitcoin Trades Near $75,000 as CLARITY Act Setback Weighs, Fed Decision in Focus
The sell-off wiped out more than $600 million in leveraged positions as regulatory uncertainty and higher bond yields pressured crypto markets, analysts said.
- Bitcoin fell below $75,000 to hit a September low after the CLARITY Act failed to clear the Senate cloture vote 50-49, effectively ending the bill's chances of becoming law this year.
- Rising bond yields, tighter monetary policy expectations, and regulatory uncertainty pressured crypto markets alongside the legislative setback, delaying hopes for a comprehensive regulatory framework for digital assets.
- The sell-off triggered more than $600 million in leveraged liquidations over 24 hours, while crypto stocks including Circle and Coinbase tumbled about 10% and major altcoins corrected significantly.
- Vikram Subburaj, CEO of Giottus, advised avoiding excessive leverage ahead of the Federal Reserve policy decision, as the Fear & Greed Index fell from 81 to 67, signaling cooled investor sentiment.
- Bitcoin holding between $75,000 and $76,000 keeps the market above a critical support zone; a sustained break below could expose the low-$72,000s, according to Avinash Shekhar, Co-Founder & CEO of Pi42.
27 Articles
27 Articles
The US Senate failed to advance legislation to clarify rules for the crypto market, a result Reuters described as a setback for the crypto industry.
Bitcoin operates in decline on Wednesday (16), close to $75,000, after the U.S. Senate failed to advance the Clarity Act, a project that seeks to establish rules for the digital asset market in the United States. At around 10.50 a.m., bitcoin drops 1.3% in 24 hours, to $75,714.91, according to CoinGecko. In Brazil, cryptocurrencies were traded at R$ 391,065.88, with a decrease of 1.22%, according to the CoinTrader Monitor. According to Bitget, E…
Bitcoin price targets $72.5K as Aroon favors sellers
Bitcoin price fell toward $75,500 after the U.S. Senate rejected the CLARITY Act, while bearish momentum and nearby liquidation clusters raised the risk of another decline before the Federal Reserve’s rate decision. According to data from crypto.news, Bitcoin (BTC) price…
The Economic Times
Times of IndiaBitcoin trades near $75,000 as CLARITY Act setback weighs, Fed decision in focus
Bitcoin fell below $75,000 to a September low after the US Senate rejected the CLARITY Act cloture vote 50-49. Ethereum and major altcoins also declined, while rising Treasury yields, regulatory uncertainty and weaker sentiment added pressure to cryptocurrency markets.
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