Ethereum (ETH) led losses among major cryptocurrencies on Friday morning after a Politico report said the Digital Asset Market Clarity Act (CLARITY) may lack Democratic support, making passage more difficult.

The market was also weighed down by the sell-off in AI stocks and ongoing geopolitical tensions stemming from the conflict between the U.S. and Iran.

Ethereum’s price dropped as much as 2.7% in the last 24 hours, trading at around $1,837. The leading altcoin is down nearly 40% this year and trades over 60% below its record high of almost $5,000 set in August last year.

It was among the top trending tickers on Stocktwits at the time of writing. Retail sentiment around Ethereum on the platform trended fell to ‘bullish’ from…