Bitcoin Slides Below $90,000 as Analysts Highlight CLARITY Act Delays and Bond Market Shock

Bitcoin briefly dropped under $90,000 before recovering toward $89,582 in Thursday afternoon UTC trading, after touching an intraday low near $87,300 and a short-lived high around $90,295. Analysts argue that the delayed US CLARITY Act, shifting institutional use of BTC and a sharp liquidity shock in Japanese government bonds, which pushed long-dated JGB and US Treasury yields higher, are now key forces shaping Bitcoin's price and its role as a non-sovereign asset.