Bitcoin’s price fell to 115,222 USD after a 196-223 defeat in the House concerning three major crypto bills linked to Trump. This led to a significant market sell-off.
The failure of these legislative efforts was aimed at regulating stablecoins and clarifying jurisdiction between the SEC and CFTC, intending to bolster market stability.
The drop in Bitcoin affected Ethereum, XRP, and Solana, with traders withdrawing 3.5 billion USD from Bitcoin holdings, highlighting market apprehension.
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