Bitcoin has dropped sharply toward the $66K level as major developments in crypto policy and industry leadership shake market sentiment. Coinbase is facing growing backlash after refusing to support the latest version of the Clarity Act, raising concerns about delays in U.S. crypto regulation, while David Sacks steps down from his role advising on crypto and AI policy—adding to uncertainty around the future direction of regulation. At the same time, debates over stablecoin yield and broader market structure continue to divide lawmakers and industry leaders. With political shifts, regulatory tension, and weakening sentiment all hitting at once, the big question is whether this is just a temporary pullback—or the start of a deeper move.

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