Bitcoin Price Falls to $75.6K: Key Levels to Watch

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Bitcoin price action weakened over market nerves prior to the Senate CLARITY Act vote, while surging bond yields pressured risk assets across the board.

Bitcoin (BTC) saw month-to-date lows at Tuesday’s Wall Street open as global bond yields spiked and crypto markets awaited a key US Senate vote on the CLARITY Act.

Bitcoin dropped to $75,560, its lowest level so far in September ahead of the US Senate’s procedural vote on the CLARITY Act.

Global bond yields in major economies set new macro highs as $100 oil prices remained a point of contention.

Analysis expects that central banks around the world will raise interest rates going forward, traditionally a headwind for crypto markets.

Crypto traders remained on edge ahead of the procedural vote on the CLARITY Act, due at 2:15pm Eastern time. The legislation will go forward to a Senate-floor debate should it gain the necessary 60 votes.

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