The US Senate failed to pass the cloture motion for the Digital Asset Market Clarity Act, falling short of the 60-vote threshold despite months of negotiations and 126 concessions made to Democrats. In reaction, Bitcoin broke below the $75,000 support level, dropping more than 5% over 24 hours. A total of 120,211 traders were liquidated for $769.21 million in a single day, including $568.06 million in long positions. Without a legislative framework, crypto companies remain under the shared oversight of the SEC and the CFTC. Markets are now awaiting the Federal Reserve’s rate decision, with the probability of a 25 basis point hike reaching 92% on CME FedWatch.
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