Bitcoin pulls back 3% from $79,530 highs ahead of a critical Senate vote on crypto market structure, while XRP and Zcash buck the trend to trade higher.
Bitcoin has given back 3% from its overnight high near $80,000 as the Senate prepares to vote on crypto market structure legislation.
XRP is one of the only major cryptocurrencies gaining ground while Bitcoin slides.
Zcash is gaining ground alongside XRP as the only majors advancing amid Bitcoin's decline.
Bitcoin retreated 3% from its overnight peak of $79,530 as investors brace for a pivotal Senate procedural vote on crypto market structure. While the broader market faces selling pressure, XRP and Zcash remain outliers, posting gains against the prevailing bearish trend.
The Senate is holding a procedural vote on crypto market structure legislation, which creates uncertainty and potential regulatory shifts for the digital asset sector.