Bitcoin Slides Below $64,700, Triggers $42.3M Long Liquidations as Senate CLARITY Act Stalls and Oil Tops $101

BTC-1.20%
On Thursday, Bitcoin slid below $64,700, triggering $42.3 million in long liquidations, as U.S. Senate progress on the CLARITY Act stalled and crude oil surged past $101 per barrel. The cryptocurrency declined 2% from just over $66,000 earlier in the day, with market capitalization falling from $1.32 trillion to $1.3 trillion. According to Bitunix analyst Dean Chen, the selloff reflects broader macro pressures: legislative momentum on the CLARITY Act faltered amid renewed partisan friction, while geopolitical tensions intensified the rally in energy costs. President Trump's statements signaling potential military escalations against Iran, combined with ongoing Houthi maritime attacks disrupting Red Sea shipping corridors, drove Brent crude to multi-month highs. Energy volatility, liquidity conditions, and Federal Reserve policy expectations will remain critical drivers for risk assets, including crypto, in the weeks ahead.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments