Bitcoin price targets $72.5K as Aroon favors sellers

Bitcoin price fell toward $75,500 after the U.S. Senate rejected the CLARITY Act, while bearish momentum and nearby liquidation clusters raised the risk of another decline before the Federal Reserve’s rate decision.

According to data from crypto.news, Bitcoin ($BTC) price traded at approximately $75,940 at press time, according to the 4-hour chart. The price had recovered slightly from an intraday low of $75,350 but remained under pressure after the CLARITY Act failed to advance in the U.S. Senate.

The procedural vote ended 49-50, leaving the proposed crypto market structure legislation 11 votes short of the 60 required to move forward. The setback weighed on digital assets and U.S.-listed crypto companies as traders reassessed the outlook for federal market rules.

Derivatives amplified the initial decline. Approximately $771 million in leveraged crypto positions were liquidated over 24 hours, including about $568 million in long positions, according to market data cited after the vote. The imbalance showed that traders positioned for higher prices were caught by Bitcoin’s move below $76,000.

Bitcoin price loses 4-hour Bollinger midpoint

Bitcoin’s 4-hour chart shows that the price has moved below the Bollinger Band midpoint at $77,080. The level now forms the first major barrier for any short-term recovery.