Several crypto-related bills backed by President Donald Trump recently failed to pass a key procedural vote in the House of Representatives, delivering a setback to the industry’s hopes for legislative progress this week. Despite Trump’s calls for support during what he dubbed “Crypto Week,” the bills did not clear the hurdle.
Following this development, Bitcoin’s price dropped below $117,000, down over 2.8% to around $116,484. The crypto market now faces increased uncertainty as regulatory efforts stall in Congress.