Bitcoin stabilized at $75,900 in London trading following a 4% drop triggered by a failed US crypto regulatory bill and growing anticipation of a Federal Reserve rate hike.
Bitcoin fell 4% after the US failed to advance a key crypto regulatory bill and as expectations of a Federal Reserve rate hike weighed on speculative assets.
Bitcoin prices retreated 4% during the US session as legislative efforts to clarify crypto regulations stalled in the Senate. The decline coincides with heightened market expectations for a Federal Reserve interest-rate hike, pressuring speculative assets as bond yields climb toward 5%.
Bitcoin dropped 4% due to a combination of legislative uncertainty following the failure to advance a key crypto regulatory bill and investor anxiety over a potential Federal Reserve interest-rate hike.