Bitcoin Drops Below $88,000 as Senate Prepares to Mark Up Crypto Bill – DOGE and SOL Experience Significant Losses

Bitcoin Price Decline: Bitcoin's price has fallen below $88,000, with analysts indicating this level as a key support point, while retail sentiment has turned extremely bearish.

Ethereum and Other Cryptocurrencies: Ethereum's price has also dipped below $3,000, and other major cryptocurrencies like Solana and Dogecoin have experienced significant losses in the last 24 hours.

Agriculture Committee's Role: The U.S. Senate Agriculture Committee is scheduled to hold a markup session for the CLARITY Act, which could advance regulations for the cryptocurrency market, despite broader legislative stalls.

Market Outlook and Analysis: Analysts are divided on the near-term price action of cryptocurrencies, with Bitcoin and Ethereum facing pressure to reclaim previous support levels, indicating potential further declines.