$BTC Down 20% and Everyone Blames the Clarity Act. Here’s the Real Reason.

Bitcoin is down about 25% since the Clarity Act was approved by the Banking Committee, and I keep seeing people say this is an early sign the Senate will reject it. I don’t believe that, and this is my honest opinion.
The bill hasn’t been rejected yet. If anything, it’s moved forward. On June 1, it was placed on the Senate Legislative Calendar, meaning it’s now in line for a full vote on the floor. That’s progress, not death.
So why is the price still falling? I think it’s pretty clear. ETFs have been pulling out for 13 straight days—about ~$4.4 billion gone with not a single green day. They’ve been the main buyers all year, and once they step back, the market loses its support. On top of that, selling strategies are making people nervous, money is rotating into stocks and AI names, and a tight Federal Reserve plus tension in the Timur Tengah are pushing everyone away from risk.
I keep hearing stories about accumulation and pressure too—big players forcing prices down to buy cheap before regulation is passed. Honestly, I don’t see it on-chain. What I see is outflows and forced selling, not quiet accumulation. So I avoid that narrative until the data truly supports it.
The only real risk I see for this Act is the tight Senate schedule—not rejection.
On the chart level, 65K and 70K have already broken and are now acting as resistance. I’m watching 60K closely. If 60K breaks down, 50K is on the table. RSI is extremely oversold, so I wouldn’t be surprised to see a sharp rebound here.
My view remains the same. This decline is liquidity and macro-driven—not a Senate rejection. Separate these two stories and you’ll read this market better than most people.
TA Only. Not Financial Advice. ALWAYS Do Your Own Research.#ShareYourUSStocksWinNvidia