The Senate failed to advance the CLARITY Act and crypto dropped. The number going around says $300 million of longs in 20 minutes. The exchange data says something different, and the real figure is larger and slower.
Everyone is waiting for a vague economic event. There is a specific one on the calendar. AI capex stopped being funded by cash flow, the Fed is priced to hike into it, and crypto is flat. Here is what the numbers actually say.
