Bitcoin, Ethereum, XRP, Dogecoin Dip as Senate Prepares to Vote on CLARITY: Analyst Sees BTC Rallying to $90,000, but Only If...

Leading cryptocurrencies fell alongside stock futures on Sunday evening amid speculation over CLARITY Act passage and AI CEOs’ warnings of major safety risks.Cryptocurrency24-Hour Gains +/-Price (Recorded at 9:20 p.m. EDT)Bitcoin -0.77%$76,659.56Ethereum -1.86%$2,476.79XRP -1.55%$1.34Solana -2.33%$99.50Dogecoin -2.69%$0.08255Crypto Market Comes Under StrainBitcoin dropped to an intraday low of $76,367 late in the evening, while 24-hour trading volume spiked 10%. Ethereum followed a similar pattern later in the session, while XRP and Dogecoin sold off sharply.The Senate is scheduled to hold a procedural cloture vote on the CLARITY Act on Tuesday.Over $270 million was liquidated from the cryptocurrency market over the last 24 hours, with long position traders bearing the brunt of the losses, according to Coinglass data.Bitcoin’s open interest rose 0.75% from the previous day. An increase in open interest combined with a price dip indicates a short build-up, meaning bearish traders are entering the market.The market held onto a “Greed” sentiment despite the dip, according to the Crypto Fear & Greed Index.Top Gainers (24 Hours)Cryptocurrency (Market Cap>$100 M)Gains +/-Price (Recorded at 9:20 p.m. EDT)Lisk (LSK) +85.09% $0.8630Bitway (BTW) +24.51% $0.6865Filecoin (FIL) +22.88% $0.9907The global cryptocurrency market capitalization stood at $2.62 trillion, down 0.89% in the past 24 hours. Read Also: Weekend Crypto Round-Up: Bitcoin's Gold Comparison, Dogecoin's Potential Bounce and More Stock Futures Dip After AI Risks FlaggedStock futures traded lower overnight on Sunday. The Dow Jones Industrial Average Futures lost 91 points, or 0.17%, as of 8:37 p.m. EDT. Futures tied to the S&P 500 dropped 0.53%, while Nasdaq 100 Futures fell 1.27%.Anthropic CEO Dario Amodei called on AI companies to slow advancements, following warnings from researchers about potential catastrophic risks. OpenAI CEO Sam Altman expressed support for Amodei’s essay, emphasizing the need to “pace the frontier.”Investors will closely watch the Federal Reserve’s policy meeting this week, as markets currently price in an 86% probability of a rate hike, according to the CME FedWatch tool.Where is Bitcoin Headed?Cryptocurrency chartist Michaël van de Poppe said Bitcoin needs to reclaim $78,000 for a potential rally to $90,000 in coming weeksHowever, he affirmed that he’d buy dips if $78,000 doesn’t break and BTC falls to $74,000.Monitoring the chart on tells my gut that we're most likely not going to fall that deep.Effectively, we're currently at range low and are showing some interesting signs that they want to proceed again. needs to reclaim $78,000, but once that… Ali Martinez, a widely followed cryptocurrency analyst and trader, drew attention to the formation of an ascending triangle on Ethereum’s 12-hour chart“The last triangle breakout sent Ethereum surging 31% in just three days,” Martinez stated. “If ETH breaks out again, a similar move could send it to $3,000.”An ascending triangle is typically viewed as a bullish chart pattern that can precede an upside breakout. Price usually breaks above the horizontal resistance line, suggesting the prior uptrend is likely to resume.ETHEREUM TARGETS $3,000The last triangle breakout sent Ethereum surging 31% in just three days.Now, another triangle is forming.If breaks out again, a similar move could send it to $3,000. Read Also: XRP Price Wavers Amid Steady ETF Inflows Ahead of CLARITY Act Vote Photo Courtesy: Marc Bruxelle on Shutterstock.com