Bitcoin Falls Below $75,000, Crypto Stocks Plunge as Clarity Act Vote Fails
TradingKey - Procedural vote on the Clarity Act falters, Bitcoin loses $75,000, and crypto stocks plunge across the board.
On September 15, Eastern Time, the U.S. Senate procedural vote ended with 49 votes in favor and 50 against, falling short of the 60-vote threshold and failing to advance the Clarity Act. The outcome triggered a sharp market reaction to the failed resolution of policy uncertainty and set off a chain reaction of liquidations across the network.
By the close, crypto concept stocks plunged across the board, with Circle (CRCL) and Coinbase (COIN) both tumbling over 10%, Bitmine (BMNR) falling over 8%, Strategy (MSTR) dropping over 5%, and Robinhood (HOOD) falling over 3%.
Over the past 24 hours, cryptocurrency losses widened further. Among them, Bitcoin fell 3%, briefly dropping below the $75,000 mark; Ethereum plunged over 4%, at one point losing the $2,400 mark; and Ripple (XRP) tumbled over 9%, far exceeding other major coins.
This round of sharp declines in the crypto market dealt another blow to bulls, with the sentiment index sliding further toward the neutral level (50) to 63. According to data from Coinglass and other platforms, over 110,000 traders were liquidated across the crypto market in the past 24 hours, with total liquidations topping $666 million and long positions accounting for $568 million, or 85%.
Crypto market liquidation data, Source: CoinGlass
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