Bitwise CIO says crypto can survive Clarity Act failure
Bitwise chief investment officer Matt Hougan said he gave the Clarity Act about a 50-50 chance of passage, while noting Polymarket odds later fell to 27% and Senate timing makes a pre-recess vote difficult. He argued that crypto's long-term prospects are intact because institutional adoption and potential SEC rulemaking could advance market structure even if Congress fails. Analyst Crypto Rover warned of near-term volatility, citing elevated open interest that could precede a correction toward $50,000–$47,000 for Bitcoin. The immediate consequence is continued regulatory uncertainty that could drive market volatility while prompting alternative rulemaking paths.
Hougan gave the Clarity Act roughly a 50-50 chance.
Context
The Clarity Act faces uncertain prospects and market odds have fallen. Senators need to file for cloture to vote before the August recess. If Congress does not act, the SEC may pursue rulemaking that could change the path of regulation.
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