Bitcoin, Ethereum, XRP Crash As CLARITY Act Fails To Pass Senate Vote
Highlights
- Amid the setback of the CLARITY Act, Bitcoin had plunged 3.7%, Ethereum started its downtrend by losing 5.2% and XRP was down 7.3% in 24 hours.
- The vote in the Senate was 50 in favor and 49 against, with less than the 60 votes required to pass.
- Over 24 hours, crypto markets experienced $669.71 million in total liquidations, of which $571.64 million were long position liquidations.
Bitcoin, Ethereum and XRP hit fresh selling pressure following the failure of the U.S. Senate to pass CLARITY Act. A process vote on the bill was unsuccessful with fewer than 60 votes. The defeat follows months of talks between Republicans and Democrats on the digital-asset market structure bill. According to the latest market data,
XRP Takes The Heaviest Hit As Bitcoin, Ethereum Also Dip
As of writing, Bitcoin price hovered near $75,976.10 with a 3.7% dip, while Ethereum plunged 5.2% and stood at $2,404.20. Furthermore, XRP saw a huge drop of 7.3%, currently trading at $1.31 at the time of writing.
For context, the CLARITY Act Senate vote failure came as it was just 11 short of the 60 votes required to advance with 49 Yes votes and 50 No votes. Four Republicans joined their Democratic colleagues in opposing the measure.
Not invoked, 49-50: Motion to invoke cloture on the motion to proceed to Cal. #423, H.R.3633, Clarity Act.
— Senate Cloakroom (@SenateCloakroom) September 15, 2026
One point of contention was the ethics language of the bill. Democrats pointed out that the provisions didn’t go far enough to protect the interests of federal officials in the crypto market, especially those of Trump and his family.
Before the vote, Republicans had added ethics restrictions and enforcement changes. But negotiations fell short of securing necessary support for the procedural motion.
Crypto Liquidations Surge To $669.71 Million
The crypto market’s bearish move led to massive liquidations across the industry. According to CoinGlass, total 24-hour liquidations of $669.71 million as the CLARITY Act stalled. Long positions totalled $571.64 million and short ones $98.06 million. During the period 116,199 traders were liquidated.
On its liquidation heatmap, it also revealed that there were approximately $231.63 million in Bitcoin-related liquidations and approximately $220.77 million in ETH-related liquidations.
Meanwhile, the 4-hour liquidation was $28.76 million, with $24.23 million representing long liquidations.
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