Bitcoin Tests $70,000 as Markets Await Fed Decision

Bitcoin (BTC) has fallen below $75,000 amid the failure of the U.S. Digital Asset Market Structure Act—also known as the CLARITY Act—and rising U.S. Treasury yields. The market now turns its attention to the $70,000 area, specifically the 200-day moving average, and the Federal Reserve's interest rate decision on June 16.

CryptoSlate reported that Bitcoin dipped below $75,000 during Wednesday's trading session. The U.S. Senate failed to advance the CLARITY Act after a vote of 49-50 in favor of moving forward with the bill's procedure.