Bitcoin Price Drops Under $96K as Crucial Crypto Regulation Bill Delayed in U.S. Congress

The price of Bitcoin (BTC) has experienced a significant decline, falling below the $96,000 threshold. This market movement coincides with reports of a key cryptocurrency regulatory bill stalling in the United States Congress. The proposed legislation, which aimed to provide clearer regulatory frameworks for digital assets, has faced delays, contributing to market uncertainty. Analysts suggest that the slowdown in legislative progress is a primary factor behind the current sell-off pressure. The situation highlights the ongoing sensitivity of cryptocurrency markets to regulatory developments in major economies like the United States. Market participants are now closely monitoring Congressional proceedings for any updates that could impact future price action.