Coinbase BTC Premium Hits One-Month Low After Clarity Bill Failure

Following the US Senate's failure to secure the necessary 60 votes for the Clarity Act, Coinbase's BTC premium index dropped to -0.079, reaching its lowest point in a month, according to CoinDesk. This indicates Coinbase's BTC price is approximately $50 lower than Binance's, signaling weakened demand from U.S. investors. CoinDesk analyzed that the Clarity bill failure, coupled with expectations of a Federal Reserve rate hike, rising U.S. Treasury yields, and increasing global oil prices, has weighed on investor sentiment.