Bitcoin Tumbles Below $117K After Crypto Bills Stall in House Vote
Bitcoin dipped below the $117,000 mark on Tuesday following a legislative setback in the U.S. House of Representatives, where several cryptocurrency-focused bills were blocked from advancing.
According to Coin Metrics, the digital asset was last trading 2.8% lower at $116,516, retreating from an earlier high of $120,481.86. The decline followed a 196–223 vote, where a group of 13 Republicans joined Democrats in halting progress on key crypto proposals.
The pullback came after days of record-setting gains driven by strong institutional demand for bitcoin ETFs and growing expectations around new crypto regulations.
Crypto-related equities also slid during late trading. Bitcoin mining firms like Riot Platforms and Mara Holdings closed down 3.3% and 2.3%, respectively, while trading platforms such as Coinbase fell 1.5% in extended hours.
