Bitcoin has fallen to approximately $75,500, extending its retreat after the Senate failed to advance the CLARITY Act and leaving the market exposed ahead of today’s Federal Reserve decision.
Live prices published by CoinDesk show Bitcoin down roughly 2% over 24 hours. Ether is near $2,390, while Solana is below $97 and XRP has sustained a considerably larger decline.
The legislative failure removed a potential positive catalyst and pushed regulatory attention back toward the SEC and CFTC. It also arrived while broader financial conditions remain difficult for risk assets.
The Federal Open Market Committee announces its decision at 2 p.m. Eastern Time, followed by a press conference at 2:30 p.m., according to the Federal Reserve’s official meeting calendar. Markets have been heavily positioned for a quarter-point rate increase.
Treasury yields near multi-year highs and elevated oil prices have complicated the central bank’s task. Tighter policy can raise the return available on lower-risk assets, pressure leveraged positions and reduce liquidity available for cryptocurrency speculation.
Bitcoin has now lost the lower boundary of the previous $76,000-to-$80,000 range. A brief intraday recovery would not independently restore the structure; buyers would need to reclaim the broken level and sustain it through the Fed announcement.
TOKEN RECON ASSESSMENT
Bitcoin is confronting two separate shocks: a lost legislative catalyst and renewed monetary tightening risk.
The immediate defensive area is approximately $75,000. A confirmed loss of that position would increase the risk of a move toward the larger technical support zone around $70,000.
A recovery above $76,000 would stabilize the short-term structure, but $80,000 remains the primary upside confirmation line.
Watch the Fed’s rate decision, forward guidance, Treasury yields, oil, spot-market volume and whether leverage continues to unwind after the announcement.
Sources
CoinDesk. Bitcoin slides as CLARITY Act failure hits crypto markets
