Bitcoin Slides Below $63K as Senate Advances CLARITY Act and RWA Market Hits $51B

Bitcoin tumbled below $63,000 on Monday, extending a three-day losing streak as a broad tech-driven selloff swept global markets. A rotation out of top-performing AI and chip stocks dragged Asian equities sharply lower, with South Korea's Kospi shedding 6%, and crypto fell in lockstep. Bitcoin is now down more than 3% on the week, trading near $62,340 as of Monday morning.

Spot Bitcoin ETF outflows continued to amplify the pressure. Three consecutive days of net selling saw $68M exit Bitcoin ETF products on Sunday alone, and total liquidations over the past 24 hours surpassed $575M, with $458M of that figure coming from long positions. Trading volume dropped to $68B over the same period, down sharply from more than $110B just two days prior, signaling waning participation from bulls.

CLARITY Act Clears Senate Calendar Milestone

On the regulatory front, the Digital Asset Market Clarity Act took a significant step forward when it was placed on the Senate Legislative Calendar on June 1, making it formally eligible for full Senate floor consideration. The Senate Banking Committee had advanced the bill by a 15-9 vote on May 14, with all 13 Republicans joined by two Democrats. To become law, the CLARITY Act must still be reconciled with the Senate Agriculture Committee's version, clear a 60-vote Senate floor threshold, be reconciled with the House-passed version, and be signed by the President.

If enacted, the legislation would grant the CFTC exclusive jurisdiction over digital commodity spot markets, including Bitcoin and Ethereum, while the SEC would retain oversight of investment contract assets. Industry observers say the bill could unlock a wave of institutional participation by resolving the long-running regulatory turf war between the two agencies. California's own Digital Financial Assets Law is also set to take effect July 1, adding another layer of compliance deadlines for the industry.

Separately, the tokenized real-world asset market surpassed $51B in total capitalization, reflecting a 40% increase since the start of 2026, according to 99Bitcoins citing Bernstein research. That growth has come despite a 20% decline in the broader cryptocurrency market, pointing to rising institutional interest in on-chain representations of traditional assets. Private credit leads the sector at roughly 47% of total market capitalization, followed by tokenized U.S. Treasuries at approximately 30%, with commodities accounting for an additional 9%. Most activity is concentrated on the Provenance and Ethereum networks, which together represent over 70% of all tokenized assets.