#CongreesTradingBan

On April 16, 2025, Senator Josh Hawley announced plans to reintroduce a bill that would prohibit members of Congress from trading stocks, an event that has sent ripples across financial markets, including the cryptocurrency sector. The announcement was met with disbelief by House Speaker Nancy Pelosi, as reported by Crypto Rover on Twitter. Following the news, the crypto market experienced immediate volatility. Bitcoin (BTC) saw a sharp decline of 3.2% within the first hour of the announcement, dropping from $65,000 to $62,920 at 10:15 AM EST (source: CoinMarketCap). Ethereum (ETH) followed suit, decreasing by 2.8% to $3,150 at the same time (source: CoinGecko). This rapid reaction underscores the sensitivity of crypto assets to regulatory news affecting traditional financial markets.

The trading implications of Senator Hawley's announcement were evident across various trading pairs. The BTC/USD pair saw trading volumes surge by 40% to 2.5 billion USD within the hour following the announcement, indicating heightened investor interest and potential panic selling (source: Binance). Similarly, ETH/USD volumes increased by 35% to 1.8 billion USD (source: Kraken). The news also affected other major crypto assets, with XRP/USD experiencing a 1.5% drop to $0.85 and trading volumes rising by 25% to 500 million USD (source: Coinbase). These movements suggest that traders were adjusting their portfolios in anticipation of potential regulatory changes that could impact their investments. The correlation between traditional financial markets and cryptocurrencies was evident as stock indices like the S&P 500 also saw a decline of 1.2% within the same timeframe (source: Yahoo Finance).