Bitcoin returned to the $75,000 support zone after the U.S. Senate failed to advance the CLARITY Act, while risk-off pressure hit crypto markets. The Senate rejected cloture on H.R. 3633 by 49-50, falling short of the three-fifths threshold required to advance the bill.
As the vote appeared headed for failure, Bitcoin fell more than 5%, adding pressure to an already weak market. However, the setback did not amount to final rejection. Instead, it blocked the procedural step needed to move the legislation forward rather than ending the proposal outright.
That possibility remained intact after Senator Thom Tillis voted no through a procedural move that preserved an option for reconsideration. Meanwhile, the bill seeks a federal framework for digital commodities. Its structure includes regulatory roles for the SEC and CFTC, keeping the legislation relevant to investors tracking U.S. crypto market rules.
Bitcoin Holds Near $75K After Senate Setback
Against that regulatory backdrop, the daily chart shows $BTC near $75,884 after touching a low around $75,458. That places $75,000-$75,500 at the center of the setup. The zone overlaps the daily fair value gap, making it the technical floor after the selloff and the first level defining the recovery.
If buyers keep defending the area, Bitcoin first needs to reclaim resistance near $76,000. The next resistance band sits between $77,000 and $78,000. Beyond that, $79,890 remains the main upside barrier.
A sustained move above it would provide stronger confirmation that the rebound extends beyond short-term relief. Nevertheless, losing $75,000 would weaken the recovery structure. The chart would then shift attention toward roughly $74,900 and the lower imbalance near $73,400.
$660M Liquidation Flush Resets $BTC Leverage
That downside risk also comes after a sharp leverage reset across the broader crypto market. Total liquidations reached $660.40 million over 24 hours, including $558.03 million in long positions and $102.37 million in shorts.
Over the latest 12-hour period, liquidations totaled $387.89 million, with longs accounting for $318.29 million. As a result, the figures show that leveraged buyers absorbed most of the losses during the selloff.
By clearing leveraged longs, the flush reduced exposure that had amplified forced selling. That leaves less leverage vulnerable to further liquidation. However, the event does not confirm a bottom or guarantee relief. Any rebound still requires fresh demand and resistance reclamation.
For now, $75,000-$75,500 remains the floor. Holding it keeps $76,000, $78,000, and $79,890 in focus. On the contrary, a decisive break below that zone would shift the structure toward $74,900 and $73,400, leaving $BTC exposed to downside after the Senate setback.
Related: Bitcoin Traders: Is the $75K Liquidity Sweep Coming Before $90K?
