US semiconductor stocks fell across the board, with the Philadelphia Semiconductor Index dropping 5.68%.
AMD fell 10.23%, SanDisk fell 10.90%, Qualcomm fell 10.33%, Arm fell 9.46%, Western Digital fell 9.59%, and Seagate Technology fell 9.56%. Micron Technology fell 7.43%, SK Hynix fell 7.21%, Nvidia fell 3.96%, TSMC fell 5.40%, and Broadcom fell 4.87%. The 3x Long Semiconductor ETF fell 18.22%.
Bitcoin's price needs to break through $82,000 to confirm that it has broken out of its downward channel.
If the price falls below this level, the downward channel will persist. (Bitcoin Archive)
BTC is currently priced at $79,016.14, down 0.16% in the last 24 hours. In the last hour, the total liquidation amount across all contracts was $102 million, primarily long positions, with BTC liquidations accounting for $28.16 million (27.36%). This data is for reference only.
With the Democrats' victory in the US midterm elections, Sherrod Brown returned to the Senate, and Elizabeth Warren continues to wield influence in financial policy. The new Congress is focusing its attention on scrutinizing President Trump's personal crypto business and World Liberty Financial, rather than pushing for the CLARITY Act.
Sharplink CEO Joseph Chalom predicts the CLARITY bill may be stalled until 2028, while TD Cowen analyst Jaret Seiberg believes the bill is unlikely to make progress in the next two years. Industry insiders such as Circle suggest that the crypto industry is bipartisan, and areas like stablecoins and tokenized stocks can still make progress through existing laws and regulatory rules. (Source: CNBC)
