Bitcoin Slides as Clarity Act Advances and Quantum Risk Alarm Sounds

Bitcoin fell roughly 2.78% to around $75,506 on Saturday as a convergence of hawkish Federal Reserve commentary, leveraged long liquidations topping $170M, and a delayed SEC innovation exemption for tokenized stocks pulled prices away from the $77,000 level reached earlier in the week. The broader crypto market dropped 2.5% in tandem, erasing an estimated $33.8 billion in Bitcoin market value in a single session and leaving traders watching the critical $74,950 support level as the next line of defense.

Sentiment was further bruised by billionaire Mark Cuban, who disclosed he had sold approximately 80% of his Bitcoin holdings, criticizing the asset for failing to act as a safe-haven during recent geopolitical tensions. Cuban noted that while gold surged past $5,000 per ounce during the US-Iran standoff, Bitcoin stagnated, undermining the digital-gold narrative that has attracted mainstream investors for years. Long-term holder supply, however, climbed to 16.3 million BTC, suggesting seasoned participants remain unfazed by the short-term turbulence.

Senate Advances Clarity Act Amid Growing Crypto Policy Momentum

On the legislative front, the Clarity Act cleared the Senate Banking Committee in a 15-9 vote, delivering a significant milestone for an industry that has long operated in regulatory limbo. The bill, championed by Coinbase, Circle, and Ripple, would establish a comprehensive market structure framework for digital assets, though it still needs 60 Senate votes and a House reconciliation before reaching President Trump's desk. Committee Chair Tim Scott called the vote a necessary step toward giving developers and investors clear rules of the road after years of enforcement-driven uncertainty.

Away from Washington, a sobering report from Glassnode found that roughly 30% of Bitcoin's circulating supply, valued at approximately $469 billion, sits in wallets potentially exposed to future quantum computing attacks. Developers have been working proactively on a solution through BIP-360, the Pay-to-Merkle-Root proposal, which would allow wallets to opt into quantum-resistant transaction types without exposing public keys on-chain for extended periods. The proposal remains a forward-looking blueprint rather than an active network change, but analysts say its eventual adoption will be critical as quantum hardware continues to mature.