Bitcoin price today dropped 2.19% to $68,670.70 amid ongoing legislative uncertainty surrounding the CLARITY Act and US central bank policies.
Ethereum's price plunged 5.36% to $1,965.56 and top altcoins traded in the red zone as traders increase their stablecoin holdings. Dogecoin price crashed 10.91%.
Elon Musk’s X platform is set to launch ‘Smart Cashtags’ to let users trade cryptocurrencies directly from their social timelines. XRP is in focus today as Ripple CEO Brad Garlinghouse joins the US CFTC advisory committee
Crypto prices today showed bears taking control. Investors grow restless amid regulatory uncertainty in the US, one of the largest crypto markets in the world. This legislative limbo has capped recent rallies, resulting in increased liquidations and a shift toward stablecoin havens. Bitcoin price today continued to be range bound between $68,000 to $69,000, down by almost 2%. Ethereum and other top coins followed suit, falling over 3% with Dogecoin dropping almost 10%. The global market cap dipped 2.61% to $2.35 trillion at press time.
Here’s why crypto market is down today based on CoinMarketCap data.
Bitcoin price today dropped 2.19% over the past 24 hours to trade at $68,670.70. The leading cryptocurrency maintained a market cap of $1.37 trillion with trading volume reaching $38.09 billion. Earlier in the week, Bitcoin was trading between $62,000 and $71,000, showing sideways movement without any clear breakout.
CoinSwitch Markets Desk commented, “BTC climbed from roughly $66,800 to near $71,000 but wasn’t able to break above that level, keeping the $70,000-$71,000 area as a key resistance zone for now. After a few attempts higher, price eased back toward the $68,500-$69,000 range. The $69,500 level is acting as a short-term barrier, while $68,000 remains an important support to watch. If that support holds, BTC could attempt another push higher. However, a break below $68,000 may lead to a move toward the $65,000-$67,000 area. A sustained move above $70,000 would improve near-term momentum.”
Despite the pullback, traders are increasing their leverage positions, according to a Decrypt report. They seem to be betting on a potential price rebound. The annualized three-month futures basis on major exchanges like Binance, OKX, and Deribit has expanded from around 1.5% to 4% since February 13. Hence, showing that speculators are willing to pay a premium for long positions.
Avinash Shekhar, Co-founder and CEO, Pi42 explained, “While ETF flows have moderated, they have not shown the kind of capitulation typically associated with a full scale crypto winter, suggesting long term investors are largely holding their ground. At the same time, derivatives data shows a clear regional divergence, with US institutional desks continuing to maintain long exposure even as offshore traders reduce leveraged positions. What we are witnessing is a transition from speculative momentum to structurally driven demand. Macro uncertainty and deleveraging have triggered volatility, but institutional participation remains intact, indicating confidence in Bitcoin’s longer term narrative.”
Ethereum price today declined sharply by 5.36% to $1,965.56. The second-largest cryptocurrency saw its market cap drop to $237.22 billion, with 24-hour trading volume hitting $26.51 billion.
Nischal Shetty, Founder WazirX noted, “Ethereum’s stability near the $1,900 mark highlights consistent engagement across core digital assets, with capital remaining concentrated in established networks. Overall, price action across leading cryptos remains range-bound but resilient. With macro conditions cautious yet stable and institutional flows continuing, the broader market structure reflects consolidation supported by steady underlying demand rather than heightened volatility or risk-off positioning.”
Solana (SOL) fell 3.86% to $85.35. Cardano (ADA) and BNB also declined 5.82% and 3.16%, respectively. Dogecoin (DOGE) suffered the biggest hit among high-cap assets, plunging 10.91% to $0.1025.
On the other hand, Bitcoin Cash (BCH) at tenth position among the world’s top coins by market cap, defied the market-wide bearish trend. The coin gained 0.86% to $568.66. During this volatility, Tether (USDT) and USD Coin (USDC) have maintained their pegs near $1. Thus, serving as the primary flight-to-safety asset for traders exiting volatile positions.
Here are top headlines impacting crypto prices today.
XRP price earlier surged to a high of $1.6703 on February 15 before profit-taking pushed it below $1.5. The token was trading at $1.46 today, down from its recent peak but above February's low of $1.1227.
According to a FXempire report, the XRP price recovery came after Ripple CEO Brad Garlinghouse joined the CFTC's Innovation Advisory Committee on February 12. He has joined alongside Coinbase CEO Brian Armstrong and Nasdaq CEO Adena Friedman. This appointment signals a shift toward crypto-friendly regulation in the United States.
Growing optimism that the US Senate will pass the Crypto Market Structure Bill has also boosted demand for XRP. Reports suggest that traditional finance and decentralized finance sectors are nearing an agreement on stablecoin yields, which had been the major issue until now.
The primary obstacle to achieving federal regulatory certainty remains the debate over stablecoin yields within the CLARITY Act. Treasury Secretary Scott Bessent and White House adviser Patrick Witt have both emphasized that the legislation is critical for market stability.
However, banks continue to view yield-bearing stablecoins as a direct threat to traditional deposits. Meanwhile crypto firms argue that banning yields will stifle domestic innovation. White House crypto adviser Patrick Witt explained that banks can offer stablecoin products just like crypto platforms do, with many banks already applying for OCC charters to provide similar services.
US Treasury Secretary Bessent warned that the approaching 2026 midterm elections could derail the bill. They could also reverse crypto regulations established under President Trump's administration. He emphasized that Democratic control of the House would collapse prospects for reaching a deal. The legislation aims to define the roles of the SEC and CFTC while establishing rules for stablecoins and yield products.
Elon Musk's X platform plans to introduce ‘Smart Cashtags’ within weeks. It would allow users to trade stocks and cryptocurrencies directly from their timelines. The feature will roll out alongside X Money, a peer-to-peer payments system currently in beta testing.
This development advances Musk's vision of turning X into an ‘everything app’ similar to China's WeChat. The platform, which reaches roughly 600 million monthly users, already hosts a large portion of online crypto conversations.
However, X recently cracked down on crypto-linked engagement apps, restricting API access for projects that reward users for posting. This decision sent shockwaves through the crypto market, with KAITO token sliding roughly 20% in a single day.
Also Read: Goldman Sachs Warns $80B in CTA Selling Could Extend Stock Slide and Pressure Bitcoin
Crypto prices today showed the market maturing. Co-founder, and CEO, Pi42 echoed this sentiment, stating, “The recent correction in crypto appears less like panic and more like repositioning. In the near term, prices may remain range bound and reactive to liquidity conditions, yet the underlying market structure still points toward consolidation rather than collapse. For investors, this phase calls for discipline rather than reaction. Staggered allocation strategies, avoiding excessive leverage, and focusing on time in the market instead of timing the market can help navigate fluctuations. Periods of consolidation often reward patience and consistent investing behaviour.”
Prices are under pressure because of two reasons; legislative gridlock in Washington and a cautious Federal Reserve. With leverage increasing and options markets showing mixed signals, analysts warn of potential volatility ahead. The market sits at a critical point where passage of the CLARITY Act could spark a rally. Meanwhile, continued delays may trigger further selloffs before a bottom forms.
Also Read: Bitcoin: Is This the Start of a Never-Ending Fall?
1. Why is crypto market down today?
Crypto market is down today because of regulatory uncertainty in the United States. Lawmakers are still debating the CLARITY Act, which aims to define rules for digital assets and stablecoins. This delay has made investors cautious. At the same time, traders are watching signals from the Federal Reserve. When uncertainty rises, many investors reduce risk, leading to short-term price declines.
2. What is Bitcoin price today?
Bitcoin is trading below $69,000 because it failed to break above the $70,000 to $71,000 resistance zone. Traders attempted to push prices higher earlier in the week, but momentum slowed. The $68,000 level is now seen as key support. If that level breaks, analysts expect Bitcoin could test lower zones near $65,000 to $67,000.
3. Why is Dogecoin crashing?
Dogecoin saw the sharpest decline among major cryptocurrencies, falling 10.91% in 24 hours. Meme coins often react more strongly during market weakness. When Bitcoin and Ethereum fall, traders usually sell riskier assets first. This leads to sharper swings in coins like Dogecoin compared to more established cryptocurrencies.
4. What is the latest news regarding CLARITY Act?
The CLARITY Act is a proposed US law that aims to create clear rules for cryptocurrencies. It would define the roles of regulators like the SEC and CFTC and set standards for stablecoins. Investors believe clear rules could reduce uncertainty. If passed, the bill may improve confidence and support stronger market stability.
5. What is crypto market outlook for today?
Many investors are still active despite the decline. Market experts note that long-term holders have not shown panic selling. ETF flows have slowed but not collapsed. Some institutional desks in the US are maintaining long exposure. This suggests the current pullback looks more like consolidation than a full market breakdown.
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