US senators failed to secure the required 60 votes for the CLARITY Act on Tuesday, pushing major crypto legislation off the table until 2027. Bitcoin’s Coinbase Premium dropped to a one-month low of -0.079, signaling weakened US demand relative to Binance users. Short-term holders transferred up to 34,000 BTC to exchanges within 24 hours, with 23,200 BTC sold at a loss, marking the largest capitulation event recorded over the past month. Onchain analyst Willy Woo noted an intensification of the divergence between Coinbase sellers and non-US buyers, describing the dynamic as bullish.
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