Bitwise CIO: Bitcoin rally may persist despite Clarity Act failure

Bitwise CIO Matt Hougan stated that the failure of the CLARITY Act in the U.S. Senate may have a smaller impact on the crypto market than previously anticipated. Despite the bill's defeat, Bitcoin has continued to rise, climbing from $58,000 in July to over $80,000 in early September, even as Polymarket odds for the bill's passage dropped from 39% to 14%. Hougan, who previously warned that the bill's failure could lead to "six more weeks of winter" for crypto, now believes the market's resilience suggests the rally can continue independently of the legislation.