Bitcoin experienced its biggest short-term holder capitulation event in September following the U.S. Senate’s failure to advance the CLARITY Act cryptocurrency regulatory bill. The price dropped approximately 4% to below $76,000, hitting an intraday low of $74,900. On-chain data from CryptoQuant shows 23,200 BTC were transferred to exchanges at a loss, with short-term holder inflows rising from 19,400 to 33,100 BTC. Binance received over 10,000 BTC while Kraken received over 6,000 BTC, significantly exceeding its normal range. Technically, bitcoin is attempting to stabilize between $75,000 and $76,000, with the daily RSI retreating toward the neutral 50 area.
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