Bitcoin, Ethereum, XRP, Dogecoin Dip as Senate Prepares to Vote on CLARITY: Analyst Sees BTC Rallying to

Leading cryptocurrencies fell alongside stock futures on Sunday evening amid speculation over CLARITY Act passage and AI CEOs’ warnings of major safety risks.

Crypto Market Comes Under Strain

Bitcoin dropped to an intraday low of $76,367 late in the evening, while 24-hour trading volume spiked 10%. Ethereum followed a similar pattern later in the session, while XRP and Dogecoin sold off sharply.

The Senate is scheduled to hold a procedural cloture vote on the CLARITY Act on Tuesday.

Over $270 million was liquidated from the cryptocurrency market over the last 24 hours, with long position traders bearing the brunt of the losses, according to Coinglass data.

Bitcoin’s open interest rose 0.75% from the previous day. An increase in open interest combined with a price dip indicates a short build-up, meaning bearish traders are entering the market.

The market held onto a “Greed” sentiment despite the dip, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.62 trillion, down 0.89% in the past 24 hours.

Stock Futures Dip After AI Risks Flagged

Stock futures traded lower overnight on Sunday. The Dow Jones Industrial Average Futures lost 91 points, or 0.17%, as of 8:37 p.m. EDT.  Futures tied to the S&P 500 dropped 0.53%, while Nasdaq 100 Futures fell 1.27%.