Bitcoin Falls as Passage of Clarity Act Becomes Less Likely

Bitcoin fell 1.56% to $65,047.34 on July 23 as investors grew wary of risky assets.

The decline in Bitcoin was part of a broader market pullback, with oil prices rising and Treasury yields climbing.

The passage of the Clarity Act, which would provide a clear framework for handling digital assets in the US, is now less likely to happen in August, adding to investor uncertainty.

Despite this, progress on mainstream adoption continues, with Bank of New York Mellon announcing plans to pilot its tokenized Treasuries product by the end of the year.