Bitcoin Slips Below $77K as Crypto Clarity Act Hopes Fade

Bitcoin traders just experienced a sharp reality check after a brief spike toward $80,000 quickly reversed. The market surged during the US session when approval odds for the Crypto Clarity Act jumped above 30 percent on Polymarket. That momentum vanished by early Tuesday in Asian hours as odds collapsed back down to 18 percent following a rejection of the draft proposal by Democratic senators.

Senator Mark Warner confirmed that negotiations will continue with a counteroffer, keeping the bill alive for now. However, market analysts point out that recent price action relies heavily on regulatory headlines instead of steady organic demand. Bitcoin currently sits below $77,000 after shedding ground over a 24 hour period, with the failed push creating fresh overhead resistance near the $79,500 mark.

Traders are now watching the $77,000 level as an immediate line to hold. A decisive drop below that support zone could send the price down toward the mid $70s. On the other hand, a recovery in procedural voting odds might help Bitcoin reclaim the $80,000 region, while stalled talks could push the market into a sideways grind.