Sentiment Around Clarity Act Pressures Bitcoin and Crypto — Market Talk

Cryptocurrency investors were increasingly optimistic this week about the passage of the Clarity Act, which supported prices for bitcoin and other cryptocurrencies. But that support has faded as the odds for the passage of the Clarity Act have decreased, says Alex Schmidt of CoinShares in a note. "This week demonstrated, in both directions, that the market is… trading the headline," says Schmidt. Decreasing the expectations around the passage of the bill is opposition from Senate Democrats over ethical concerns. Bitcoin is down 1.7% to just above $64,000, according to data from LSEG. Ethereum falls 1.2% to $1,862, XRP is down 1.8% to $1.09, and solana is down 2.8% to $73.94. ([email protected])