Bitcoin rejected at $80K amid Senate CLARITY Act vote; total crypto market cap stable at $2.65T with mixed altcoin performance.
Regulation & Gov ·
Bitcoin surged to nearly $80,000 on Monday before retreating below $77,000 ahead of a US Senate vote on the CLARITY Act. The pullback repeated a pattern seen Friday, when the cryptocurrency had jumped to $79,800 only to face selling pressure. Bitcoin's market cap held at $1.540 trillion with a dominance of 58.85% over altcoins.
The broader altcoin market showed mixed results, with XRP, XLM, and UNI posting daily gains while Ethereum fell below $2,500 after briefly reaching $2,670 earlier in the week. Several larger-cap tokens including BNB, SOL, and DOGE declined slightly, though RAIN posted the steepest loss at over 11%. Total cryptocurrency market capitalization remained stable at $2.650 trillion.
Additional volatility is anticipated around the CLARITY Act Senate vote and an upcoming US Federal Reserve interest rate decision. Whether the legislative action or macroeconomic developments will provide directional clarity for price action remains uncertain, as does the persistence of this rejection pattern at the $80,000 level.