Bitcoin Dips to $74,900 and Ethereum Falls Below $2,400 Amid $660M Liquidation Wave

Bitcoin and Ethereum faced significant downward pressure as Bitcoin dropped to $75,814 and Ethereum fell below the $2,400 support level. The market downturn was fueled by U.S. Treasury yields exceeding 5%, rising oil prices, and the failure of the CLARITY Act (US digital-asset market-structure bill) to pass in the Senate. According to CoinGlass, total liquidations reached $666 million over 24 hours, with long positions accounting for over 85% of the total. Market sentiment has shifted from greed to neutral, with the Fear and Greed Index dropping 18 points to 51.