Bitwise CIO: Crypto Bull Market Does Not Depend on Washington's Approval

Bitwise Chief Investment Officer Matt Hougan stated that the ongoing crypto bull market remains resilient despite the recent failure of the CLARITY Act (US digital-asset market-structure bill) in the Senate. Hougan noted that Bitcoin prices rose significantly between July and September even as the probability of the bill's passage declined on Polymarket. He argued that institutional adoption is already underway, driven by a favorable regulatory environment under the current SEC and CFTC leadership, which is expected to continue until 2029. While the bill's passage would have been a positive catalyst, Hougan believes the industry's growth is not contingent on specific legislation.