What happened: Bitcoin (BTC-USD) fell 4% to hover below $76,000 on Tuesday.
What's behind the move: The world's largest cryptocurrency lost ground ahead of a Fed decision this week, and as the CLARITY Act struggled to clear a cloture vote in the Senate.
Hopes of securing the 60 votes needed to proceed faded ahead of the afternoon vote as Republicans and Democrats remained divided over the latest version of the bill.
Polymarket bettors gave the bill a 5% chance of becoming law this year. Investors now fear it will be shelved until after the midterm elections and potentially pushed to 2029.
The crypto market has been closely following the bill aimed at establishing a comprehensive federal framework for digital ****** et markets.
#bill #ahead #hopes
What's behind the move: The world's largest cryptocurrency lost ground ahead of a Fed decision this week, and as the CLARITY Act struggled to clear a cloture vote in the Senate.
Hopes of securing the 60 votes needed to proceed faded ahead of the afternoon vote as Republicans and Democrats remained divided over the latest version of the bill.
Polymarket bettors gave the bill a 5% chance of becoming law this year. Investors now fear it will be shelved until after the midterm elections and potentially pushed to 2029.
The crypto market has been closely following the bill aimed at establishing a comprehensive federal framework for digital ****** et markets.
#bill #ahead #hopes
4 hours ago
