Injective price drops 10% following CLARITY Act Senate vote failure

Injective (INJ) experienced a 10.2% price drop over a 24-hour period, following a broader Bitcoin sell-off. This market volatility was triggered by the failure of the CLARITY Act to pass in the U.S. Senate. The wider cryptocurrency market saw approximately $637 million in liquidations during this period, with long positions accounting for $525.3 million of that total.

Despite recent losses, some technical analysis suggests a long-term recovery structure for Injective. Analysts are monitoring key support levels, noting that staying above the $5.26 demand zone would be a positive indicator for buyers, while a drop below $4.65 could invalidate the current bullish bias on the daily timeframe.