Bitwise: CLARITY Act Passage Could Signal a Crypto Market Bottom

Bitwise said passage of the CLARITY Act would likely signal a bottom for the cryptocurrency market, as prediction markets currently estimate the bill’s chances of passing this year at around 40%. According to NS3.AI, that implied probability has declined from about 75% in mid-May. Bitwise added that if the legislation is rejected, it could increase short-term volatility in crypto markets.