Bitcoin, BTC-Related Stocks Tumble After Senate Blocks Clarity Act
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Lawmakers blocked the crypto market structure bill from going forward on Tuesday and Bitcoin slid fast.
Key facts
The price of the leading cryptocurrency recently stood at $75,939, down 4% over the past day, after dropping as low as $75,038 at one point on Tuesday
America’s biggest crypto exchange’s stock dropped by more than 10%; Strategy, the largest corporate holder of bitcoin slid by over 5%
Senators mostly voted against advancing the legislation, 49 for and 50 against, that the digital asset industry has long called
Major publicly traded bitcoin miners also dropped in price, with MARA, CleanSpark, and Core Scientific all slipping by 5% or more over the past day
Summary
Bitcoin’s price tumbled, along with crypto-related stocks, following the blockage of the long-awaited Clarity Act. The price of the leading cryptocurrency recently stood at $75,939, down 4% over the past day, after dropping as low as $75,038 at one point on Tuesday. Lawmakers blocked the landmark digital asset market structure bill in a procedural vote Tuesday. Bitcoin wasn’t the only asset that dropped: BTC-related stocks such as Coinbase (NASDAQ: COIN) and Strategy (MSTR) were also down.