Key facts
- The Senate voted 50-48 to pass a war powers resolution directing President Trump to withdraw U.S. armed forces from hostilities against Iran.
- Four Republican senators broke ranks to vote in favor of the resolution.
- The resolution previously passed the House of Representatives.
- The measure does not have the force of law but serves as a symbolic rebuke to the administration.
- The Pentagon has requested $80 billion in emergency spending to replenish munitions depleted by the conflict.
The U.S. Senate approved a resolution directing President Trump to withdraw U.S. armed forces from hostilities against Iran, with four Republican senators breaking ranks to vote with Democrats. The final vote was 50-48. This measure, which previously passed the House of Representatives, does not require Trump's signature as it is a concurrent resolution, but it does not hold the force of law. It directs the President to remove troops from hostilities, with exceptions for protecting U.S. assets or allies from imminent attack, under the 1973 War Powers Act. The vote occurred two days after President Trump threatened to bomb Iran if it did not curb its proxies. Senator Tim Kaine highlighted the administration's request for $80 billion in emergency spending to replenish munitions depleted by the conflict as a reason for the vote. Sens. Rand Paul, Susan Collins, Lisa Murkowski, and Bill Cassidy were the Republicans who voted in favor.
Bitcoin price stabilized near its 200-week moving average (200-WMA) at $62,450 amid easing geopolitical tensions. The U.S. Senate passed a bipartisan resolution invoking the War Powers Act to end the Iran war, with President Donald Trump criticizing the decision. S&P 500 and Nasdaq 100 futures surged on the news. Oil and gold prices eased as geopolitical tensions subsided. Bitcoin's trading volume increased by 30% over the past 24 hours, and total BTC futures open interest climbed slightly.