The U.S. Senate rejected a landmark crypto‑regulation bill, sending Bitcoin plunging 5.3% to $74,910, Ethereum down more than 8%, and Coinbase tumbling 12%. With hundreds of millions of dollars in industry lobbying efforts coming to naught and the regulatory vacuum persisting, coupled with rising U.S. Treasury yields tightening liquidity, the crypto market is facing a double whammy from both macroeconomic headwinds and policy uncertainty.
The cryptocurrency market suffered a sharp setback on Tuesday. The U.S. Senate rejected a landmark digital‑asset regulatory bill, dashing the industry’s long‑awaited policy catalyst, while rising interest rates stoked liquidity concerns, sending market sentiment into free fall.
Bitcoin once fell…
