HTX analyst: CLARITY Act failure is a one-off price hit and a year-long delay for institutions
- —Bitcoin fell from $77,800 to $74,910 after the CLARITY Act vote failed
- —The law accounted for 60-70% of the one-off drop, macro for 30-40%; for the overall correction the proportion is reversed
- —Coinbase shares fell 10%, Circle 11%, more than bitcoin
- —The legislative window shifted to 2027 due to congressional recess and November elections
Why it matters: Institutional products in the U.S. are delayed by at least a year, but the SEC and CFTC could partially close the gap with their own rules, giving crypto stocks recovery potential.
Source: PANews