# Crypto Longs Lose $570 Million as Bill Fails and Traders Price a Fed Hike

Bitcoin traded near $76,000 and XRP fell about 10 percent, with the Federal Reserve's rate decision due at 2 p.m. Eastern on Wednesday and futures markets split on whether it raises.

- Published: 2026-09-16T05:44:37.392Z
- Canonical: https://polylog.news/crypto/2026-09-16/crypto-longs-lose-570-million-as-bill-fails-and-traders-pric
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/markets/2026/09/16/crypto-bulls-take-a-usd570-million-liquidation-hit-as-clarity-act-fails), [CoinDesk (XRP)](https://www.coindesk.com/markets/2026/09/16/xrp-sinks-10-as-the-clarity-act-fails-and-bitcoin-slides-toward-usd76-000), [CoinDesk (equities)](https://www.coindesk.com/markets/2026/09/15/crypto-stocks-sink-after-senate-rejects-clarity-act), [Bitcoin Magazine](https://bitcoinmagazine.com/news/bitcoin-tumbles-after-clarity-act-blockage)

Leveraged positions were the first to register the legislative outcome. CoinDesk reported $570 million in liquidated long positions over 24 hours, with bitcoin and ether longs taking the largest share, after the Senate blocked the CLARITY A…

This story is for subscribers. Read it in full at https://polylog.news/crypto/2026-09-16/crypto-longs-lose-570-million-as-bill-fails-and-traders-pric (subscription information: https://polylog.news/pricing).