Clarity Act Delay Casts Shadow Over Bitcoin's Prospects

Crypto investors are waiting for the approval of the Clarity Act, a crucial piece of legislation that would create a framework for the industry and determine how crypto assets should be treated.

The bill has been delayed and may not pass this year due to roadblocks and issues along the way. There's growing pessimism that it may not even pass at all this year.

Bitcoin has been trading sideways, holding steady at around $60,000. Its value could ultimately depend on Congress and the direction of the Clarity Act.