Bitcoin's price has dropped to $61,300, marking a significant decline of over 25% this month and 30% since the start of the year. Long-term holders are selling aggressively, offloading $2.4 billion in early June. The sell-off extends to the derivatives market, with increased volatility. Meanwhile, the Digital Asset Market Clarity Act is struggling to pass in the US Senate, facing hurdles despite some bipartisan support. The legislative calendar is tight, with only eight weeks left before summer recess, complicating the bill's progress.