Bitcoin Rally Hinges on CLARITY Act as Seven Senate Democrats Block Vote
Citi cuts price target to $112,000 while institutional investors wait for regulatory clarity that remains stuck in procedural limbo.
Bitcoin's path to six figures runs through the US Senate, where seven Democratic lawmakers have become the unexpected gatekeepers of crypto's regulatory future. The CLARITY Act—legislation to designate which federal agency oversees cryptocurrency markets—sits stalled despite broad industry support and White House backing.
The math is unforgiving. Ending debate requires 60 votes. Republicans hold 53 seats. That means all seven Democrats who previously backed the GENIUS Act stablecoin legislation must flip. So far, none have: Catherine Cortez Masto, Angela Alsobrooks, Cory Booker, Ruben Gallego, John Hickenlooper, Mark Warner, and Raphael Warnock have all rejected the current text.
The stalemate carries real costs. Citi lowered its 12-month Bitcoin price target to $112,000, citing the stalled CLARITY Act as a primary reason. Institutional investors remain on the sidelines, waiting for the regulatory clarity that seven senators now control.