Bitcoin Surges Past $80,000 as CLARITY Act Fails to Advance

The cryptocurrency market has continued to recover despite the failure of the CLARITY Act in the US Senate. The bill, aimed at providing regulatory clarity for digital assets, required 60 votes to advance but only received 49. Bitcoin and Ethereum have both seen significant price increases since the vote, rising around 11% each.

Bitwise Chief Investment Officer Matt Hougan stated that while the industry missed out on long-term regulatory certainty, it avoided several provisions that could have constrained growth. Specifically, the bill included language prohibiting platforms from paying interest or returns on customer stablecoin balances, a restriction that exchanges can continue to circumvent under existing regulations.

The market has also seen increased participation from institutional investors, with spot ETFs and perpetual futures funding rates suggesting significant deleveraging had occurred. The average purchase price for ETF holders is around $81,700, with Bitcoin recovering to this level and entering overall unrealized profit territory for the first time since January 2026.