Bitcoin Falls 4% After House Rejects Trump Crypto Bills
The US House voted 196–223, with 13 Republicans joining Democrats, to block debate on three Trump-backed crypto bills: the GENIUS Act for stablecoin rules, the CLARITY Act defining SEC vs CFTC oversight, and a ban on a Fed digital dollar. Bitcoin plunged 4% to around $115,000, while Ethereum, XRP and Solana fell by 1–2%. On-chain data show $3.5 billion in profit-taking, over half from long-term holders. Crypto stocks such as COIN, RIOT and MARA also dropped. Former President Trump publicly pressured GOP dissenters on social media, and House Majority Leader Steve Scalise plans to revisit the bills later. The regulatory deadlock heightens uncertainty and boosts short-term volatility. Traders should watch for new votes, ETF flows and adjust positions accordingly.
Bearish
Blocking key crypto bills has spooked traders and raised regulatory uncertainty. Bitcoin’s 4% drop on the House vote reflects immediate bearish pressure and profit-taking. Short term, volatility will stay elevated as the market waits on re-votes, ETF inflows and clearer rules. Longer term, the outlook remains uncertain until Congress advances any crypto framework, which could cap bullish momentum.