Bitcoin slides below $96,000 as key crypto bill stalls in Congress

During U.S. market hours, cryptocurrencies resumed selling pressure, particularly Bitcoin, which slid below $96,000 amid concerns as a crucial crypto bill stagnates in Congress. This bill has been expected to regulate the crypto market and has heightened investor expectations, but the lack of progress has contributed to a bearish trend for Bitcoin in the short term. Future market movements will largely depend on the bill's progression in Congress and investors' risk appetite. In a historical context against a traditional financial system, the essence and legitimacy of the crypto market are being questioned, making it a critical juncture for investors.