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Bitcoin Drops Below $75,000 After US Senate Blocks Crypto Bill

By Markets Desk · 2026-09-16 · 1 min read
A digital coin resting on a wooden desk next to a gavel
Illustration: Tradingbird

Bitcoin fell below $75,000 following the failure of a key regulatory bill in the US Senate. The vote marked a significant setback for the current administration and increased market volatility.

Bitcoin dropped below 75,000 dollars on Tuesday. This decline followed a failed vote in the US Senate. The bill sought to create a federal framework for digital assets. It is known as the Clarity Act.

The proposal failed to reach the required majority. Forty-nine senators voted in favor. Fifty voted against. The necessary threshold was sixty votes. This result represents a loss for President Trump and the Republican party.

Senate vote fails to pass

The Clarity Act aimed to clarify regulatory roles. It sought to define powers between the SEC and CFTC. Companies wanted more legal certainty. The vote failed due to partisan disagreements. Specific rules on government conflicts of interest were a major point of contention.

Market reaction to regulatory delay

Other cryptocurrencies also fell in price. Ether lost more than five percent. XRP dropped around ten percent. The sector had invested hundreds of millions of dollars in lobbying. Industry leaders expressed disappointment at the outcome. Ripple CEO Brad Garlinghouse called the result painful.

The failure does not ban crypto trading. Existing rules remain in place. However, the timeline for a comprehensive framework is now uncertain. This adds to the uncertainty facing market participants. Investors are waiting for further political signals.

Strong jobs data weighs on prices

Macro factors also contributed to the decline. US job growth in August reached 162,000. This was a sharp increase from 21,000 in July. The unemployment rate stayed at 4.1 percent. Strong data suggests interest rates may stay high longer.

Higher rates affect riskier assets like crypto. Bitcoin is now more linked to traditional markets. This is due to the growth of exchange-traded funds. Institutional investors are more active in the space. As reported by Tagesschau Wirtschaft, this integration makes Bitcoin sensitive to interest rate expectations.

Based on reporting by Tagesschau Wirtschaft, compiled by the Tradingbird desk.

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