HTX analyst: Clarity Act rejection causes one-time price shock and long-term valuation pressure

HTX (火币 HTX) chief analyst Cloud stated that the procedural defeat of the Clarity Act in the Senate triggered a one-time sell-off in Bitcoin, while the primary long-term pressure stems from the delay in institutional adoption and regulatory clarity until at least 2027. The analyst noted that while the bill acted as a catalyst, macroeconomic factors like rising U.S. Treasury yields and inflation expectations remain the core drivers of market volatility. Shares of Coinbase (COIN) and Circle (USDC) saw steeper declines than Bitcoin, reflecting the liquidation of regulatory premiums, though potential administrative actions by the SEC and CFTC could offer recovery opportunities.