MarketsCrypto longs worth $570 million wiped out as Clarity Act failsBullish crypto futures bets worth millions have been liquidated in 24 hours. Bitcoin and ether longs have taken in the most losses.By Omkar GodboleSep 16, 2026, 12:07 a.
m. EDT2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on Crypto futures bets worth millions face liquidations. (Jakub Żerdzicki/Unsplash)SummaryShowCrypto exchanges liquidated about $571 million in bullish futures positions after the Clarity Act failed to clear the Senate’s 60-vote procedural hurdle.
Bitcoin and ether longs suffered the largest losses, at roughly $190 million each, as markets reversed a rally fueled by hopes that the bill would advance.Bitcoin remained within its recent trading range at about $75,700, while regulatory action now shifts to the executive branch, the CFTC and the SEC.Crypto traders holding long, or bullish, futures bets have taken a sharp hit over the past 24 hours after the Clarity Act failed a Senate procedural vote.
Exchanges liquidated about $571 million in long positions in that window, the highest tally since Aug. 22, according to CoinGlass. Shorts, or bearish bets, accounted for only about $100 million of the wipeout.
Bitcoin and ether longs absorbed the heaviest damage, with roughly $190 million liquidated in each. Analysts had flagged ether and DeFi tokens as the assets most likely to outperform bitcoin if the Senate voted yes. XRP longs lost about $30 million, while Solana longs lost about $22 million.
The data shows markets were positioned for continued upside, largely on hopes the Clarity Act would advance. Those hopes strengthened earlier this week after reports that President Donald Trump was willing to make concessions on the bill’s ethics provisions. The market responded: bitcoin, the largest cryptocurrency by market value, rose to nearly $80,000 from about $77,000 on Monday.
The rally began to unwind about 24 hours ago as reports circulated that Democrats were still holding the line. Those reports proved accurate. The bill failed to clear the Senate’s 60-vote procedural hurdle.
The effort is not entirely over. The CFTC and SEC can still move ahead with their own rule making. In other words, the regulatory momentum has shifted entirely to the executive branch and independent agencies following the U.
S. Senate’s 49–50 procedural vote blocking the CLARITY Act.Liquidations occur when the market moves against a trader’s futures position and mark-to-market losses mount.
If the collateral posted to back the trade is no longer enough to protect it, the trader must add funds or the exchange force-closes the position.Forced liquidations can amplify volatility, though the damage so far looks contained. As of this writing, bitcoin was changing hands around $75,700, still inside its recent range, CoinDesk data show.
NewslettersCrypto Daybook Americas - The latest moves in crypto markets, in contextMarket analysis for crypto traders and investors.PreviewSign upBy signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.CryptocurrencyMarketsLatest Crypto News 1Everyone wants SCOTUS to take up prediction markets: State of Crypto 5 hours ago2Clarity's failure could speed crypto innovation while shielding incumbents8 hours ago3President Trump declares 'energy ceasefire' between Russia and Ukraine8 hours ago4IMF finds demand for tokenized stocks, says the market is still volatile, illiquid11 hours ago5One year after 10/10 flash crash, bitcoin and ether liquidity have rebuilt, but altcoins still face risks1 day ago6Tokenized commodities look beyond gold as lending and oil open new markets1 day ago7Bitcoin's $19 billion wake-up call: One-year after flash crash, has crypto learned anything?
1 day ago8Bitcoin's volatility has plunged, but extreme price swings are more frequent than in 20181 day ago9Robinhood Chain slowdown spreads from fees to trading as transactions fall more than 40%1 day ago10XRP Ledger patched decade-old bug that could create billions of dollars in XRP from nothing1 day agoLatest Research Beyond the Risk-Free Rate: Diversified Real World Yield in Productive StablecoinsBeyond the Risk-Free Rate: Diversified Real World Yield in Productive StablecoinsDiversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.By CoinDesk ResearchSep 24, 2026Commissioned byRealFiDiversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%.
GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.Why it matters:Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
View Full ReportMore From Markets President Trump declares 'energy ceasefire' between Russia and UkraineOne year after 10/10 flash crash, bitcoin and ether liquidity have rebuilt, but altcoins still face risksBitcoin's $19 billion wake-up call: One-year after flash crash, has crypto learned anything?