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Bitcoin falls as chances of US Clarity Act vote fade
Bitcoin traded at $63,634 after dropping 2% over 24 hours, with a low near $62,784, as observers put the bill’s signing odds at 35% this year on Polymarket.
Bitcoin slipped further on Tuesday as investors weighed the likelihood of a vote on the long-awaited US crypto Clarity Act, according to Bitcoin Magazine. The article said Bitcoin was recently at $63,634, down 2% over a 24-hour period, and it fell as low as $62,784.
Market observers cited in the piece estimated a 35% chance the Clarity Act would be signed into law this year, using crypto betting platform Polymarket. The coverage also said a group of Democrats last week indicated the bill, in its current form, falls short.
Bitcoin Magazine added that lawmakers have an extended voting schedule before Congress departs for an August recess, alongside other items including sweeping Russian energy sanctions. It noted the Clarity Act previously passed the House in 2025 with bipartisan support, but stalled through much of 2026.
The article attributed part of the deadlock to concerns raised by big banks, including worries about stablecoin yield and potential impacts on banks’ deposit bases. It said an updated version introduced last week addresses ethics language by banning government officials and their families from issuing or promoting crypto, while Republicans seek bipartisan support, and that passage would establish a regulatory framework for cryptocurrency markets.
Latest closeBitcoin $63,547.54 ▼0.3%