CoinEx Daily: Bitcoin Plunges Below $109,000 as U.S. Crypto Regulation Talks Stall

Daily View

Bitcoin has dropped below $109,000, with the broader crypto market cap falling to $3.751 trillion, intensifying downside pressure after significant long liquidations. The decline comes amid the U.S. Senate's bipartisan negotiations on cryptocurrency regulation coming to a halt, further dampening market sentiment and adding to risk-off moves. Macro developments, such as forecasts of the Federal Reserve potentially halting quantitative tightening, contrast with the immediate regulatory uncertainty now weighing on prices.