Crypto markets slipped on Thursday as two forces weighed on sentiment simultaneously: a Senate hearing on the CLARITY Act revealed the legislation may slip further than expected, while a Chinese AI model triggered a global equity selloff wiping $1.8 trillion from stock markets worldwide.

Bitcoin fell to $63,367, down 1.78% over 24 hours, Ethereum dropped to $1,830 and XRP slid to $1.08. The total crypto market cap declined to $2.18 trillion as the Fear and Greed Index held at 31.

CLARITY Act: One Yard Line, No Touchdown Yet

The House Financial Services Committee opened a field hearing in New York examining how the CLARITY Act could unlock innovation across digital assets. The session was informational only with no vote impact, but it…