Bitcoin’s price fell below the $117,000 mark on Tuesday, dropping by over 2.8% to $116,484, according to Coin Metrics. The decline comes after cryptocurrency-related bills failed to pass in the House of Representatives, with 13 Republicans voting alongside Democrats to block the motion. The move marks a pullback from the day’s high of $120,481.86, as investors had been hoping for a boost from potential crypto legislation.
Institutional buying of bitcoin exchange-traded funds (ETFs) fueled recent all-time highs, but the setback has sent shockwaves through the market. Stocks linked to crypto also took a hit, with Riot Platforms and Mara Holdings closing down 3.3% and 2.3%, respectively, while Coinbase slid 1.5%. The pressure on these stocks is likely to continue in extended trading, as investors reassess the outlook for crypto legislation.
Source: https://www.cnbc.com/2025/07/15/bitcoin-falls-below-117000-after-trump-crypto-bills-are-blocked-before-vote.html