Crypto Market Faces Correction Following CLARITY Act Failure

The cryptocurrency market is experiencing a price correction after the US Senate rejected the CLARITY Act. Bitcoin (BTC) has declined 2.1% over the past 24 hours. Beyond the legislative setback, the market faces potential downward pressure from a possible interest rate hike, as Federal Reserve Chair Kevin Warsh signaled a hawkish stance amid rising inflation and weak jobs data. While some analysts suggest investors may shift toward safer assets like gold, others remain optimistic about a recovery by year-end, with Bernstein projecting Bitcoin to reclaim the $100,000 level.