Bitcoin and crypto stocks slip as Clarity Act fails to advance in Senate (updated) (BTC-USD:Cryptocurrency)

Crypto prices fell sharply after the Clarity Act failed to pass a Senate vote. Bitcoin (BTC) dropped 4.7% to $75,758.66, Ethereum (ETH) fell 7.6% to $2,398.80, and Solana (SOL) declined 6.5% to $96.71. The total crypto market cap decreased 3.7% to $2.68 trillion. The act's failure removed a potential framework for U.S. crypto growth, affecting programmable cryptos like Ethereum and Solana more severely.

Bitcoin and crypto stocks fell after the US Senate blocked a regulatory bill. Coinbase and Circle Internet Group shares dropped about 9%, while Bitcoin declined 4% to $75,908. The bill's failure is a setback for the crypto industry's regulatory clarity.

The U.S. Senate failed to advance the Clarity Act, a cryptocurrency bill supported by President Trump, falling 10 votes short of the 60-vote threshold. The bill aimed to create a regulatory framework for digital assets. Bitcoin and crypto-related stocks declined as the vote failed, with Bitcoin dropping over 5% and shares of Coinbase and Circle falling as much as 10%.

Bitcoin (BTC) fell to $75,560, its lowest September level, due to uncertainty around the US Senate's CLARITY Act vote and rising global bond yields. Analysts expect central banks to raise interest rates, which typically pressures crypto markets. The CLARITY Act's passage is seen as unlikely, with Polymarket giving it a 14% chance. Bond yields in major economies hit multidecade highs, with the US 10-year yield reaching 5.041%.

The US Senate failed to advance the CLARITY Act, which would have established a regulatory framework for digital assets. The bill received 49 votes in favor and 50 against, falling short of the 60 votes needed. The setback leaves the future of crypto regulation uncertain, with Bitcoin briefly falling below $75,000 following the vote.

Bitcoin (BTC) fell 4.9% to $76.1K, and Ethereum (ETH) dropped 4.5% to $2.40K as the Clarity Act failed to advance in the Senate. The bill's odds of passing by 2027 fell to 7.7%. Investors await the Fed's rate decision on Wednesday, which may impact crypto markets.