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BTC CLARITY bill is blocked, Bitcoin holders panic selling: Data reveals market movements
Tuesday was a crucial day for the cryptocurrency industry. The U.S. Senate originally planned to vote on key market structure legislation-the CLARITY Act. However, to the disappointment of supporters, the bill failed to pass.
The Senate rejected the motion to end debate with much less than the required 60 votes, making it impossible to move the bill forward. Bitcoin responded quickly and its price fell, but the story behind it was far more complex than it seemed.
Short-term holders compromise and surrender
According to data from CryptoQuant analyst Darkfost, after the Senate vote was defeated, losses from bitcoin short-term holders (THs) transferred more than 23,000 BTC to exchanges. In dollar terms, the value of these huge chips is close to US$1.8 billion. This marked the largest "surrender" incident in nearly a month.
CryptoQuant points out that short-term holders are generally more sensitive to sudden price movements, so their behavior is both in line with expectations and can also be used as an indicator to track periods of fear and forced selling. The market reaction on September 15 is particularly noteworthy because this group experienced almost a month of partial profit, the longest profit period this year, before prices fell yesterday.
《CLARITY法案》带来的失望情绪迅速考验了投资者在比特币近期反弹中积累的信心。尽管如此，仍需注意的是，交易所存款增加并不必然意味着所有转入的资金随后都被卖出。相反，这代表的是潜在的卖压，而非已确认的处置行为。
投资者在投票前已做出反应
Santiment Intelligence的数据显示，市场在最终投票结果出炉前就已开始做出反应。就在参议院否决法案结束辩论的前一天，比特币曾飙升至79,500美元以上。然而，随着人们怀疑即使经过最后时刻的修改，《CLARITY法案》仍可能无法获得足够的支持，卖盘加速涌现。
随后，在9月15日，加密货币价格已回落至76,000美元。Santiment认为，交易员们在正式表决失败前就已经重新定价了法案通过的恶化概率，而社交媒体的活跃度也证实了这一点。
法案失败后，相关讨论激增，其热度远高于五月该法案在参议院银行委员会推进时的水平。分析师表示，这一反应清晰地表明，当预期的看涨催化剂突然消失时，交易者会做出多么强烈的反应。
Still, yesterday's setback, although significant, does not mean the bill is over. The failed vote only delayed the process, rather than permanently veto the entire legislation, and there was still the possibility of a second attempt. However, the negative impact has immediately become apparent, and the attention of the crypto market has now turned to the Federal Reserve and today's FOMC meeting.
