Bitcoin Stays Firm at $76K as CLARITY Act Dies
Bitcoin's price held steady around $76,000 as news broke that the CLARITY Act had failed to pass a procedural vote in Congress. The bill's failure likely spells its demise for this year.
The lack of clarity on the bill's future led to widespread selling across the crypto market, with 91,737 traders liquidated over the past 24 hours, resulting in $505.67 million in losses. In contrast, spot Bitcoin ETFs saw net inflows of $160 million on Monday, while spot Ethereum ETFs experienced net inflows of $121 million.
Despite this downturn, some analysts remain optimistic about Bitcoin's future prospects. Dan Tapiero believes that BTC could hit $20 trillion by 2035, a tenfold increase from its current price. Meanwhile, Standard Chartered predicts that Arbitrum will surpass both ETH and BTC in value, reaching $10 by 2030.