Editor's PiCK
[Market Update] Bitcoin falls below $118,000 as US crypto bill stalls
Suehyeon Lee
Summary
- It was reported that Bitcoin fell below the $118,000 level as the passage of the US crypto bill was delayed.
- Besides Bitcoin, major altcoins such as Ethereum, XRP, and Solana were also reported to have declined in price.
- An increase in the number of Republican lawmakers opposing the crypto bill in the US House of Representatives was mentioned as weighing on investor sentiment.
As progress on the passage of the United States' crypto (virtual asset) bill stalls, Bitcoin (BTC) is showing a downward trend.
As of 10:48 AM (local time) on the 17th, according to CoinMarketCap, Bitcoin is trading at $117,826.92, down 0.63% from an hour ago.
Ethereum has also fallen 1.13% in the past hour to $3,318.72, while XRP is down 0.99% to $3.01. Solana has dropped 1.6% from an hour earlier to $170.90.
This decline is interpreted as being due to a red light flashing on the passage of the US crypto bill. According to Eleanor Terrett, host of Crypto in America, the number of Republican lawmakers in the US House of Representatives opposing the crypto bill has increased by one, now totaling ten.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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