Bitcoin Slips As Crypto Law Betting Odds Drop
Bitcoin gave up its early week gains after traders on prediction markets scaled back their bets on a major crypto bill passing this year.
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LIVEBitcoin dropped 1.7% to $76,862 since midnight UTC, wiping out the positive momentum from a late Monday rally. The sudden price shift followed a sharp drop in prediction market confidence. On Polymarket, the odds of the Clarity Act becoming law this year were cut in half overnight.
Traders had previously driven prices higher on hopes of quick regulatory progress in Washington. When those odds slumped, the market reacted instantly. Bitcoin pulled back as sentiment cooled down, showing how sensitive current price action is to political headlines.
Market participants are now watching to see if support levels hold near current prices. Any fresh news from regulators or lawmakers could spark the next big move for the leading cryptocurrency.
Prices update live from CoinMarketCap. Market data, not financial advice.
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