Despite the CLARITY Act Advancement, Bitcoin Fell Below $77K
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In crypto markets, despite the CLARITY Act advancing through the Senate Banking Committee on May 14, Bitcoin fell below $77,000—down nearly $6,000—triggering about $670 million in leveraged long liquidations while Ethereum slid more than 10%. BTC-focused ETFs saw roughly $700 million in net outflows over the past three days, signaling sell-the-news pressure and increased short-term market risk for crypto price stability and adoption despite pro-crypto comments from Senator Cynthia Lummis.
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- Bitcoin fell below $77,000, triggering $670 million in leveraged crypto long liquidations on Monday.
- BTC’s continuous decline since the advancement of the CLARITY Act hints at sell-the-news behavior among traders.
- According to Senator Cynthia Lummis, digital assets provide individual freedom and individual savings.
On May 14th, the CLARITY Act passed the Senate Banking Committee and advanced for full Senate Voting. Despite the positive outcome, BTC’s price declined by nearly $6,000, suggesting possible sell-the-news behavior among traders. BTC’s fall triggered a liquidation of over $670 million in leveraged crypto long positions.
Alongside Bitcoin, Ethereum fell by over 10%, and the BTC ETFs experienced a net outflow of $700M over the past 3 days.
Advancement of the CLAIRITY Act
Reports reveal that over 8000 letters were sent to the Senate office by Ameri…
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