Bitcoin prices rip despite the Clarity Act failure

The lack of clarity on the regulatory framework for crypto hasn't shaken the bitcoin bulls.

In fact, it appears to have brought them back to the trade.

Bitcoin broke above $84,000 for the first time in eight months early on Monday. Some of the biggest pre-market movers in the crypto patch include Strategy (MSTR), Coinbase (COIN), Circle (CRCL), and Robinhood (HOOD).

Markets — for now — are moving beyond the Clarity Act debacle.

The Digital Asset Market Clarity Act failed its procedural Senate vote last week, falling short of the required 60 votes.

Senate Democrats blocked the advancement of the Clarity Act due to lingering concerns about government ethics provisions and presidential conflicts of interest. President Trump and his family have long been key players in crypto with their various investments.

A handful of Republican defections further crippled the bill's momentum following intense lobbying from community banks over stablecoin reward rules.

"The rejection of CLARITY marks a positive inflexion point for Digital Assets," bitcoin bull and Strategy CEO Michael Saylor said in an X post.

Brian Sozzi is Yahoo Finance's Executive Editor, host of the 'Power Players With Brian Sozzi' podcast and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.

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