Bitcoin drops as South Korean stocks tumble, Senate shelves crypto Clarity Act
BTC shed 2% as South Korea's Kospi plunged 11% and the U.S. Senate shelved the Clarity Act, leaving the market facing a pivotal Fed decision on Wednesday.
Source: CoinDesk
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DW NOTE
South Korea's Kospi fell 11% on a chipmaking rout — one of its worst days in years — and took bitcoin down 2% with it. The U.S. Senate then shelved the Crypto Clarity Act to deal with Russia sanctions and confirmations, leaving two weeks of floor time before August recess and no resolution on whether government officials can hold crypto. The Fed decides rates Wednesday with core PPI still running at 3.65%.