CLARITY Act Vote Could Send Crypto Prices Soaring

A vote on the CLARITY Act, which aims to establish a regulatory framework for cryptocurrency markets, is taking place in the US Senate today, September 15th. The bill requires 60 votes to proceed, but this does not mean it becomes law immediately.

If the bill passes, market expectations suggest Bitcoin and several altcoins could see strong gains. Lacie Zhang, a research analyst at Bitget Wallet, believes that clarifying the boundaries between the US SEC and CFTC under the bill could improve institutional access and support a wider range of products for Ethereum, Solana, and XRP.

Zhang thinks Ethereum could be the biggest beneficiary due to its use as a payment layer for stablecoins, decentralized finance, and tokenized assets. If regulatory clarity positively impacts the DeFi space, DeFi tokens like UNI and AAVE could move even faster than ETH, SOL, and XRP.

TDXStrategy predicts that if the vote is positive, Bitcoin could surpass the $82,000 resistance level and rise to the $88,000-$90,000 range. However, if the vote fails, Bitcoin might experience a correction towards the approximately $73,000 level.