Bitwise CIO: Bitcoin Bull Market Remains Intact Despite CLARITY Act Setback

Matt Hougan, Chief Investment Officer at Bitwise, stated that the failure of the CLARITY Act to pass the U.S. Senate on September 16 is unlikely to derail the ongoing cryptocurrency bull market. The bill fell short of the required 60 votes, receiving only 49 as it faced opposition from all Democratic senators and some Republicans. Hougan noted that there is an inverse correlation between Bitcoin (BTC) prices and the probability of the bill's passage, suggesting the market remains resilient.