Crypto Market Cheapness Hinges on CLARITY Act Outcome

The crypto market is currently cheap, but whether it's an opportunity or a warning depends on what happens in the coming days. Bitcoin opened at around $65,000 today, about 48% below its October peak, and the Fear & Greed Index is sitting at 30.

Oil prices pushed through $100 a barrel on Thursday after Houthi attacks on two Saudi tankers in the Red Sea, causing the rates market to reprice quickly. The Federal Reserve meets on Wednesday, and traders have given it a rate hike roughly a 4-in-10 chance this time around.

Securitize is a platform that institutions trust for tokenizing their assets on-chain, with nearly nine years of experience in regulated tokenization. BlackRock, Morgan Stanley, and ARK Invest have all invested in Securitize, and the NYSE, VanEck, and BNY have chosen it to tokenize their stocks.

The main event in crypto right now isn't rates but the CLARITY Act, which decides whether altcoins are considered commodities or securities. It has passed the House and cleared committee but still needs Senate approval before September 10, with estimates on passage ranging from 38% to a coin flip.