Cryptocurrency Prices Correct as US Senate Advances Digital Asset Market Clarity Act

Cryptocurrency prices are experiencing a broad correction on Friday after the US Senate Banking Committee advanced the Digital Asset Market Clarity Act.

The act's passage has led to a decline in cryptocurrency prices, with Bitcoin testing support at $80,000. Ethereum and XRP are also extending their declines, weighed down by fading retail interest and a lack of upward momentum.

Institutional interest in spot ETFs has increased, with inflows totaling $131 million for Bitcoin on Thursday. This marks a turnaround from the previous two days, when outflows totaled $233 million and $635 million, respectively.