Failed Vote on Crypto Bill Leads to 33,100 Bitcoin Deposits to Exchanges

After the failed vote on the Clarity Act in the U.S. Senate, which received 49 votes in favor and 50 against, the number of bitcoins that short-term holders sent to exchanges rose from 19,400 to 33,100 coins. Of these 33,100 bitcoins, 23,200 were at a loss. The bill was intended to clarify which U.S. regulator is responsible for parts of the crypto market. CryptoQuant analyst Darkfost called this the largest capitulation among short-term holders in the past month, as recent buyers moved their coins under pressure while being below their purchase price. In contrast to this movement, large investors remained relatively calm; 7,300 bitcoins flowed into Coinbase Advanced, which according to Darkfost is not an exceptional amount. This indicates that especially recently entered investors reacted more nervously to the situation.

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