Bitcoin faces double blow from failed US crypto bill and higher interest rates
- Bitcoin fell after the Senate failed to advance the Clarity Act on Tuesday, dropping hopes for regulatory clarity.
- Coinbase and Circle shares fell around 16% and 20% respectively over two days following the bill's failure.
- The Fed's first rate hike in three years on Wednesday added further pressure, pushing Bitcoin down to $74,985.
- Analysts said crypto was already under pressure before the vote, citing thin liquidity and weak retail interest.
Source: ndtvprofit.com
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