Bitcoin Drops as Crypto Bills Stall
Bitcoin experienced a downturn on Tuesday, falling below the US$117,000 level. According to Coin Metrics, the cryptocurrency’s price was last trading down by more than 2.8%, settling at $116,484. This decline follows the unsuccessful attempt to advance several crypto-related bills in the House of Representatives.
The price of Bitcoin was last recorded at US$116,516.00, marking a retreat from the day’s peak of US$120,481.86. The setback in the House occurred as multiple crypto-related bills failed to overcome a procedural hurdle. A total of 13 Republicans joined Democrats in a 196-223 vote to block the motion, stalling the bills’ progress.
Recently, Bitcoin had been trading at record highs, buoyed by institutional investment in…
