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Bitcoin (BTC-USD) fell 4% on Tuesday, trading just below the $76,000 mark. The decline followed a drop in legislative support for the CLARITY Act and preceded a Federal Reserve decision expected Wednesday.
The CLARITY Act, designed to create a federal framework for digital asset markets, failed to secure the 60 Senate votes required to proceed with cloture.
Divisions between Republicans and Democrats over the bill's latest version stalled progress ahead of the afternoon vote.
Consequently, Polymarket bettors assigned the legislation only a 5% probability of becoming law this year.
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