Cryptocurrencies Remain Flat Amid Clarity Act Ethics Provisions and Geopolitical Tensions
Major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE) remained flat on Wednesday as investors assessed the implications of an updated version of the U.S. crypto regulatory bill known as the Clarity Act. The draft introduced new ethics provisions to limit federal officials' cryptocurrency investments but failed to spark significant price movement in leading digital assets. Bitcoin hovered around $65,933 after failing to break through its key resistance level at $67,000 and faced strong selling pressure. Ethereum remained within a tight trading range between $1,900 and $1,950 while XRP and DOGE also showed minimal movement. Over $180 million in long positions were liquidated across the crypto market over 24 hours, according to Coinglass data. Analyst Ali Martinez highlighted that Bitcoin needs a close above $70,920 for its rebound to continue gaining momentum. On-chain analytics firm CryptoQuant noted thin spot buying activity and suggested investors should wait for stronger volume before chasing price gains.
Topics: Bitcoin Clarity Act Dogecoin Ethereum XRP