The recent failure of the CLARITY Act, a proposed framework for the U.S. virtual asset market, has contributed to Bitcoin's struggle to recover from a sharp decline. Coupled with the recent increase in the U.S. federal interest rate, Bitcoin has remained stagnant around the $75,000 mark.
As of 8 a.m. on September 17, Bitcoin was trading at $75,638, a slight increase of 0.02% from the previous day, according to data from CoinMarketCap.
Following the Senate's rejection of a vote to end debate on the CLARITY Act, Bitcoin plummeted by over 4%, dropping to the $75,000 level. The uncertainty surrounding regulations has intensified, especially with the Federal Reserve's recent interest rate hike.
On September 16, the Federal Open Market Committee (FOMC) raised the benchmark interest rate by 0.25 percentage points, moving it from the previous range of 3.50% to 3.75% to a new range of 3.75% to 4.00%.
Other major altcoins also experienced declines, with Ethereum falling 0.18% to $2,391 and Ripple (XRP) dropping 0.19% to $1.28. Binance Coin (BNB) was down 0.70%, trading at $718.37. In contrast, Solana saw a slight increase of 0.30%, reaching $97.44.
In the domestic market, Bitcoin showed little sign of recovery. At 8 a.m. on the same day, it was trading at 1,405,500 won ($75,539) on Bithumb, reflecting a 0.48% increase from the previous day. The 'Kimchi premium,' which indicates the difference between domestic and international prices, was recorded at -0.157%.
* This article has been translated by AI.
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