Crypto-linked stocks like Coinbase and Circle sold off after the CLARITY Act failed, while Bitcoin continues to struggle against technical resistance and a hawkish Federal Reserve.
Coinbase shares fell sharply after the CLARITY Act failed its Senate vote, signalling reduced legislative tailwinds for crypto exchanges.
Circle sold off alongside Coinbase after the CLARITY Act failed, reflecting negative market sentiment toward crypto-related equities.
Bitcoin barely reacted to the failed CLARITY Act but faces a low-probability path to $100,000 given negative ETF flows, a hawkish Fed, and technical resistance near $80,000.
Coinbase and Circle shares tumbled following the Senate's rejection of the CLARITY Act, highlighting a divergence between crypto-equities and Bitcoin. While Bitcoin remained largely unmoved by the legislative setback, analysts suggest a path to $100,000 remains a low-probability stretch target contingent on renewed ETF inflows and a shift in Federal Reserve policy.
The market viewed the CLARITY Act as a legislative tailwind specifically for crypto exchanges and infrastructure providers, whereas Bitcoin's price is currently driven more by macroeconomic factors and institutional ETF demand.