Bitcoin has sharply declined following the Clarity Act failure in the U.S. Senate, which rejected the bill in a 49-50 procedural vote, falling short of the required 60 votes. According to CryptoQuant, 23,200 BTC, approximately $1.79 billion, were transferred to exchanges at a loss within just 24 hours. Exchange inflows surged 71%, rising from 19,400 to 33,100 BTC. Binance recorded over 10,000 BTC in inflows in a single day, while Kraken jumped from 2,000-3,000 BTC to over 6,000 BTC. Bitcoin’s price declined from approximately $78,000 to $74,000.
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